Again, the USDA increased the forecast of world wheat production

2018-02-09 12:07:17
Machine translation
Again, the USDA increased the forecast of world wheat production

In a new report, the experts, the USDA increased the estimate world production of wheat by 1.24 million tonnes to 758,25 million tons (including 500 thousand tons for Argentina and 480 thousand tons for Ukraine).

 

Volume global supply are now estimated at a record 1,011 billion T.

 

Evaluation world consumption of wheat increased by 3.09 million tonnes to 744,79 million tons, primarily due to the increase in the consumption of food grains by China by 1 million tonnes and Asian countries 600 thousand t

 

Export potential increased by 600 thousand tons for Argentina, 500 thousand tons for Canada, 400 thousand tonnes for Pakistan, 1 million tons to a record 36 million tons for Russia, whereas the U.S. export forecast reduced by 680 tonnes and the EU countries by 1 million tons.

 

Despite the reduction in estimates ending inventory by 1.92 million tonnes, they remain at a record level of mishpat 266: 1 million tons.

 

Traders on the stock exchange in Chicago began on Friday to take profits after the previous price hike at the March wheat futures up to a maximum of 4 months. The USDA report was bearish for us wheat, as the forecast of wheat exports from the United States reduced, and the estimate for ending stocks increased.

 

French wheat also fell because of the information on the reduction of EU exports. The weekly volume of export of soft European wheat was lower sales of feed barley.

 

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  • March delivery milling wheat on MATIF fell by 0.5 €/t to 159,75 €/t (195,79 $/t).