USDA analysts increased the estimate of the harvest and ending stocks of Ukrainian wheat
World wheat production in the 2024/25 season is forecast at 797.23 million tons (+3.44 million tons compared to the previous forecast). This is evidenced by the data of the USDA report for March.
The forecast of world wheat exports is 208.07 million tons (-0.92 million tons). Experts have increased the forecast of ending wheat stocks in the world to 260.08 million tons (+2.52 million tons).
The forecast of the wheat harvest in Ukraine has been increased to 23.4 million tons (+0.5 million tons), the export forecast has remained unchanged – 15.5 million tons. Ending stocks will be at the level of 1.69 million tons (+0.4 million tons).
The forecast for the US wheat harvest is unchanged at 53.65 million tons, the export estimate is 22.73 million tons (-0.4 million tons), and ending stocks are 22.3 million tons (+0.68 million tons).
Forecast for major wheat exporters for MY 2024/25:
| Country | Harvest, mln tons | Export, mln tons | Reserves, mln tons |
| Argentina | 18,5 (+0,8) | 11,5 (0) | 4,5 (+0,8) |
| Australia | 34,1 (+2,1) | 26 (+1) | 3,22 (+0,61) |
| Canada | 34,96 (0) | 26 (0) | 4,59 (0) |
| EU | 121,3 (0) | 27 (-1) | 10,59 (0) |
| Russia | 81,6 (+0,1) | 45 (-0,5) | 10,34 (+0,6) |
USDA analysts forecast wheat production in China in the MY 2024/25 at 140.1 million tons, imports estimated at 6.5 million tons (-1.5 million tons), and ending stocks at 129.1 million tons (-1.5 million tons).
For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp.
It is a multi-functional online platform with market intelligence for grains and oilseeds that enables to get access to daily operational information on the Black Sea & Danube markets, analytical reports, historical data.
You are welcome to get a 7-day free demo access!!!
Read also
Ukrainian corn exports exceed 1.9 mln tons
Soy supply disruptions hit the EU amid EUDR uncertainty
Egypt establishes silo project to expand wheat storage capacity
October rains improve winter crop conditions even in Ukraine’s driest regions
Spread between sunflower and palm oil reaches $270 per tonne
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon