Global wheat production forecast for 2020/21 cut by IGC

The forecast for global wheat production in 2020/21  is estimated at 764.4 mln t, 4.1 mln t under the March forecast (768.5 mln t), the IGC report reads.

Global wheat export projections for the next season were reduced to 176.7 mln t, compared to 179.9 mln t in the March report.

According to the report, world wheat carryover stocks are expected at 288.7 mln t (283.2 mln t in the March report).

Wheat stocks forecast was adjusted for the following countries:

Australia: revised upward to 6.4 mln t vs. 5.7 mln t in the previous report;
EU: cut to 12.4 mln t vs. 13 mln t;
Russia: revised upward to 11.2 mln t vs. 9.8 mln t;
Ukraine: cut to 1 mln t vs. 1.2 mln t;
China: revised upward to 133.6 mln t vs. 133 mln t;
India: revised upward to 28.5 mln t vs. 27.7 mln t.

Latifundist.com