USDA increased its estimate for ending stocks of wheat in the season 2016/17
In January, the forecast balance sheet from the USDA compared with the December estimate of the amount of global supply of wheat increased by 1.17 million tonnes to a record 993,18 million tons, which will consist 240,49 MMT initial stocks and 752,69 million tons of production. Most production capacity will grow in Argentina by 1 MMT to 15 MMT and the EU at 350 THD. MT to 144.32 million tons For other countries producing the crop assessment has not changed.
Slightly increased (to 120 thousand t to 739,89 million tons) forecast world consumption of wheat, while U.S. consumption will be reduced by 1.17 million tonnes, mainly due to the feed grain.
World imports will grow by 1.42 million tons 172,96 million tons primarily due to India, which will increase imports by 0.7 million tons to 3.7 million tons, Brazil, which will increase the import of 200 thousand tons to 6.7 million tons and South-East Asia, which will acquire 22.9 million tonnes, which is 300 thousand more than expected a month ago.
export capacity increased by 1.22 million tonnes to 178,05 million tons Forecasts for Argentina increased to 600 thousand tons to 8.6 million tons, Australia at 500 thousand tons to 24.5 million tons, EU countries on 500 thousand tons to 25.5 million tons and Ukraine 200 thousand tons to 15.7 million tons For Canada its assessment of exports reduced by 500 thousand tons to 21 million tons.
World ending inventory the 2016/17 season may increase by 1.15 million tons to a record 253,29 million so They will grow in the US, at 1.17 million tons and in Canada by 210 thousand tons, but reduced (mainly through exports) in Argentina at 190 THD. MT, Australia at 670 thousand tons, in Ukraine 200 thousand tons, EU countries-on 150 thousand tons.