USDA analysts increase forecast of Ukrainian wheat exports in MY 2024/25

The global wheat production in 2024/25 season is forecasted at 792.95 mln tonnes (-1.78 mln tonnes compared to the previous forecast). This is evidenced by the USDA report for December.

The forecast for world wheat exports is 213.65 million tons (-1.02 million tons). Experts raised the forecast of ending wheat stocks in the world to 257.88 million tons (+0.31 million tons).

The assessment of the wheat harvest forecast in Ukraine remained unchanged – 22.9 mln tonnes, the export forecast was increased by 0.5 mln tonnes – to 16.5 mln tonnes. Ending stocks will be at 0.79 mln tons (-0.2 mln tons).

The forecast for the wheat harvest in the United States remained unchanged – 53.65 million tons, exports are estimated at 23.13 million tons (+0.68 million tons), ending stocks – 21.63 (-0.54 million tons).

Forecast for major wheat exporters for MY 2024/25:

USDA analysts forecast the wheat production in China in MY 2024/25 at 140 mln tonnes, the imports estimate – 11 mln tonnes (-0.5 mln tonnes), the ending stocks – 133.5 mln tonnes (-0.5 mln tonnes).

Tags: Ukraine, export, wheat