Stocks of wheat in the new season reached a record value
According to the may forecast USDA, world wheat production in 2019/20 MG will increase in comparison with the current season by 6% to 777,49 million tonnes, which will increase competition in the markets.
most of the wheat crop will grow in the following countries:
Russia and 5.3 million tons to 77 million tons,
Australia – 5.2 million tonnes to 22.5 million tonnes,
Ukraine – compared to 3.94 million tonnes to 29 million tonnes,
Canada – 2.7 million tonnes to 345 million tonnes.
- in the EU by 17.3 million tons up to 153.8 million tons,
the Global consumption of wheat in the new season will increase by 2.9% to 759,46 million tons, in particular:
China – 3 million tons,
India – 2 million tonnes,
USA – 1.4 million tons,
the countries of South-East Africa by 1.28 million tons,
Ukraine – 1.1 mln t,
the Middle East is 1 million tons.
- in the EU, at 4.9 million tons,
Australia will increase wheat exports to 3.5 mln t, the EU – 3 million tons, Ukraine – 2.5 million tons, while Russia and Kazakhstan will reduce it by 1 million tons.
the Increase of production will lead to growth of carry-over ending stocks of 6.6% to a record 293 million tons.
After the publication of the July report the futures in the U.S. fell:
3,95 $/t to 142,19 $/t for solid winter HRW wheat in Kansas city
0.09 $/t to 189,96 $/t on a firm spring HRS wheat in Minneapolis.
- 1.74 $/t to 156,07 $/ton, in winter SRW soft wheat in Chicago
European stocks on Friday fell behind the us.
- September wheat futures MATIF decreased 1,25 €/t to 169 €/t or 189,81 $/t