USDA again reduces forecast for global wheat production in 2018/19МГ
the Department of agriculture (USDA) in its July report significantly, by 8.43 million tons to 736,26 million tons, has lowered the forecast of world production of wheat in the season 2018/19. This was 3% less than in the past, record-breaking season and the third figure of production in history. Production growth in the US compared to the forecast of June (almost 1.5 million tons) will be offset by reduced collection in Australia at 2 million tons, the EU is 4.4 million tonnes in China, 1 million tons, and Russia at 1.5 million and 1 million tons.
the Forecast of world domestic consumption was reduced by 2.03 million tons by 748,87 million tons, although this figure remains a record. Consumption growth in the United States, Argentina, Australia, China will not be able to block the reduction in in Canada, the EU, Russia and Ukraine.
the Forecast of wheat exports reduced by 1.87 million tonnes compared with the June estimate to 185,45 million. But even the reduced forecast is still an absolute record. Export growth in the U.S. at 680 thousand tons in Canada by 1 million tons, Kazakhstan by 500 thousand tons will be offset by a decrease in Australia at 1 million tons, the EU at 1.5 million tons, Russia at 1m, the tone and Ukraine by 0.5 million tons.
the World's ending stocks of wheat can be considerably less compared to the calculations of June at 5.28 million tons by 260,88 million. This is 4.7% less than last season, but the second record in history. Growth in the United States by 1.1 million tons will not be able to offset the decline in reserves in varying degrees in Australia, Canada, EU, China, Russia and Ukraine.