USDA predicts in a new season of record production and stocks of wheat

2020-05-13 12:00:51
Machine translation
USDA predicts in a new season of record production and stocks of wheat

the Increase in the initial stocks and world wheat production in 2020/21 MG amid falling global demand will lead to record growth of ending stocks the experts by the USDA.

 

In the may report evaluation home inventory of wheat in 2019/20 Mr adjusted by 1.8 million tonnes to 279,35 million tons and forecast consumption decreased by 6.4 to 748,55 million tons, resulting in ending stocks increased by 7.98 to 295,12 million tons.

 

it is Expected that in 2020/21 MG world production of wheat, compared with the current season, will grow by 4.2 million tonnes to a record 768,5 million tons, in particular, in Australia 8.8 million tonnes to 24 million tonnes due to favourable precipitation, in Russia – by 3.39 to 77 million tonnes (although the experts SovEcon his estimate of 81.2 million tons), Argentina – 1.5 to 21 million tonnes, Canada – 1, 65 to 34 million tons, China – 1.4 to 135 million tons, Kazakhstan – 2 to 13.5 million tons.

 

at the same time in the EU wheat production will decrease by 12 million tonnes to 143 million tonnes, United States – to 50,78 by 1.48 million tons, India – 0.6% to 103 million tons, in Ukraine – 1.1 to 28 million tonnes (APK-inform " estimated at 24.5 million tonnes).

 

Forecast world consumption of wheat in 2020/21 MG increased by 4.94 million tonnes to 753,49 million tons and the estimate of the volume of world trade by 4.6 million tons to a record 188 million tonnes.

 

Import wheat will rise to China by 2 million tonnes to 6 million tonnes, Algeria 1 MMT to 7.5 MMT, Morocco – 0.7 to 5.8 million tons, EU countries – 0.9 to 5.5 million tonnes, Iraq – 0.4 to 2.9 million tons, Uzbekistan – 0.4 to 3.1 million tons.

 

wheat will increase from Australia of $ 6.8 million tonnes to 15 million tonnes, Russia 1.5 to 35 million tons, Argentina – 1 to 14.5 million tons, Canada – 1.5 to 24.5 million tonnes, but will decline from the EU by 6.5 million tons to 28.5 million tons, Ukraine – 1.5 to 19 million MT, United States – 0.54 to 25.86 million tonnes.

 

World ending stocks of wheat in 2020/21 MG will grow by 5% to a record 310,1 mln tonnes, which significantly exceeds the average estimate of analysts 292,52 million tonnes 52% of this amount comes from China.

 

the Increase in wheat production amid record global corn crop significantly increase the pressure on prices, which remain low due to reduced demand and huge stocks, the ratio of which to the level of consumption has the highest ratio of 0.41.

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