The USDA increased the forecast of offer of wheat to record levels

2017-10-13 12:10:27
Machine translation
The USDA increased the forecast of offer of wheat to record levels

the October USDA report was even more bearish for global wheat balance of the season 2017/18.

 

Evaluation home inventory increased by 0.75 million tonnes to 256,58 million tons.

 

Forecast gross yield increased by 6.34 million tonnes to 751,19 million tonnes due to the EU countries (+2.17 million tonnes), India (2,38 million tons), Russia (1 MT), Canada (0.5 million tons) and North Africa (0,35 million tons).

 

the Amount of global supply of wheat increased by 7.11 million tons to a record 1007,77 million tons, while the export potential remained almost unchanged at 180,04 mln t. estimation of the export for the major sellers of wheat also remained unchanged.

 

Forecast world consumption of wheat increased by 2.09 million tonnes to 739,63 million tons.

 

it is Expected that the level of world ending stocks will increase by 4.99 million tonnes to a record level 268,13 million tonnes, with most ending stocks will grow in the EU (1.2 million tonnes), India (1.26 million tons), North Africa (1 million tons), USA (0.75 million tonnes) and Russia (0.5 million tons).