USDA analysts published the forecast of Ukrainian wheat harvest in the new 2024/25 MY

The global wheat production in 2024/25 season is forecasted at 798.19 mln tonnes (+10.47 mln tonnes compared to 2023/24 MY). This is evidenced by the USDA report for May.

The forecast of world wheat exports is 216 (+0.35 mln tonnes). Experts estimated the forecast of ending wheat stocks in the world at 253.61 mln tonnes (-4.19 mln tonnes).

USDA analysts forecast the wheat harvest in Ukraine in 2024/25 MY at 21 mln tonnes (-2 mln tonnes). The exports are estimated at 14 mln tonnes (-3.5 mln tonnes), the ending stocks are forecast at 1.06 mln tonnes (-0.12 mln tonnes).

The forecast for the US wheat crop remained unchanged at 50.56 million tons (+1.25 million tons). Exports will be at the level of 21.09 million tons (+1.49). The ending stocks of wheat in the United States will amount to 20.85 million tons (+2.14 million tons).

Forecast for major wheat exporters for 2024/25 MY:

USDA analysts forecast the wheat production in China in 2024/25 MY at 140 mln tonnes (3.41 mln tonnes), the imports estimate – 11 mln tonnes (-0.5 mln tonnes), the ending stocks – 132.61 mln tonnes (+0.1 mln tonnes).

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