USDA contrary to expectations of experts increased the estimate of world wheat stocks
the USDA published a revised forecast of the global balance of supply and demand of wheat for the current season. It has a bearish character through increase in estimates of reserves and production.
home inventory increased by 1.37 million tons 241,03 million tons, and most significantly, they grew for Ukraine by 0.7 million tons to 3.25 million tons.
World gross yield will increase by 0.28 million tonnes to 744,72 million tons and will be a record, because 1% will exceed last year's figure.
due to the deterioration of the prospects of canadian wheat world exports reduced to 174,2 million tons of Unfavorable weather during the wheat harvest in Canada has led to a reduction in exports of 0.5 million tons to 21.5 million tons of Russian exports remained at the level of 30 million tons, which is 17% higher than the end of last season.
World consumption regarding the October assessment increased by 0.79 million tons to 736,52 million tons by Russia (+0.5 million tons) and Canada, but in USA and Ukraine, the consumption will decrease.
Evaluation ending inventory grew by 0.86 million tonnes to the historical 249,23 million tonnes, although market players expected that it will decrease by 0.5 million tons Ending stocks for the United States regarding October has not changed and amount to 1,143 billion bushels, which is 17% higher than last season and meets the expectations of the experts.