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:

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).

Tags: USDA Report, wheat, USA, Argentina, crop forecast, Australia, Ukraine, China, EU, Canada