USDA predicts an increase in the global wheat crop

Global wheat forecasts for FY 2022/23 predict an increase in production, trade and a decrease in ending stocks. This is evidenced by the data of the report of USDA experts for March. Kurkul.com writes.

Thus, world wheat production will increase to 788.94 million tons, which is 5.14 million tons more than it was predicted a month earlier. In particular, Australia will harvest a larger crop — 39 million tons, which will be a record production for the country. Brazil is also expected to grow by 0.5 million tons, India by 1 million tons, and Kazakhstan by 2.4 million tons.

The global trade forecast was raised by 1 million tons to 213.9 million tons due to increased exports to Argentina, Brazil and Kazakhstan. At the same time, exports to India were reduced.

The forecast of final stocks of wheat in the world will be 267.20 million tons (-2.14 million tons).

Wheat forecasts for Ukraine:

production — 21 million tons (at the level of the previous forecast);

export — 13.5 million tons (unchanged);

final balances — 4.17 million tons (↓0.04 million tons).

Estimates of production (44.90 million tons), exports (21.09 million tons) and ending stocks (15.47 million tons) of wheat in the USA remained unchanged.