USDA predicts significant residues of wheat in season 2017/18
the USDA published its first forecast of world production and consumption of wheat in the season 2017/18. According to experts, despite the decrease in harvest volume of proposals of wheat will remain high, and carry-over stocks will exceed that record this season.
World offer compared to the current season significantly reduced, and the decrease in production offset the higher initial stocks of wheat. The wheat harvest will be 737,8 million tons, which is 2% less than the record of the current season and will become the second largest historical high.
Consumption of wheat will be reduced to 734,9 million tons. Reduction of feed consumption will be partially offset by an increase of food consumption.
World import of wheat the fifth time in a row to reach a record value.
World export will be reduced to 178.4 million tonnes of wheat Exports from the U.S. decreased by 3% to 27.2 million tonnes, but will remain above the five-year average figure. The EU will increase its share of global markets and increase exports to 31 million tons, whereas in the current lean season, the EU-28 have implemented only 27 million tons of wheat.
the End inventory 2.9 million tonnes to exceed the remnants of the current season and will be 258,3 million tons.