USDA analysts raised the forecast of the world wheat crop mainly due to the US

The global wheat production in 2024/25 season is forecasted at 796.1 mln tonnes (+5.44 mln tonnes compared to the previous forecast). This is evidenced by the USDA report for July.

The forecast for world wheat exports is 212.89 million tons (-0.08 million tons). Experts reduced the forecast of ending wheat stocks in the world to 257.2 million tons (+4.97 million tons).

Analysts did not change the forecast for Ukraine: harvest – 19.5 million tons, exports – 13 million tons, ending stocks – 0.96 million tons.

The forecast for the US wheat harvest is 54.66 million tons (+3.64 million tons). Exports will be at 22.45 million tons (+0.68). The ending stocks of wheat in the United States will amount to 23.31 million tons (+2.67 million tons).

Forecast for major wheat exporters in 2024/25 MY:

USDA analysts forecast the wheat production in China in 2024/25 MY at 140 mln tonnes, the imports estimate – 12 mln tonnes (+1 mln tonnes), the ending stocks – 134.51 mln tonnes (+2 mln tonnes).

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