USDA left the assessment of the wheat crop forecast in Ukraine unchanged

The world wheat production in 2024/25 season is forecasted at 793.79 mln tonnes (+0.55 mln tonnes to the previous forecast). This is evidenced by the USDA report for February.

The forecast for world wheat exports is 208.99 million tons (-3.01 million tons). Experts lowered the forecast of ending wheat stocks in the world to 257.56 million tons (-1.26 million tons).

The assessment of the wheat harvest forecast in Ukraine remained unchanged – 22.9 million tons, the export forecast was reduced by 0.5 million tons – to 15.5 million tons. Ending stocks will be at 1.29 million tons (+0.3 million 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, ending stocks – 21.62 million tons (-0.09 million tons).

Forecast for major wheat exporters for MY 2024/25:

USDA analysts forecast the wheat production in China in 2024/25 MY at 140.1 mln tonnes, the imports estimate – 8 mln tonnes (-2.5 mln tonnes), the ending stocks – 130.6 mln tonnes (-2.5 mln tonnes).

Tags: Ukraine, USDA Report, wheat, crop forecast