USDA cuts global wheat production and ending inventory expectations

The USDA released the supply and demand report in November, reducing the global wheat production in 2021 / 22 by 590000 tons, from 77587 million tons predicted last month to 77528 million tons.

The USDA kept the output expectations of major wheat exporting countries such as the United States, Canada and Australia unchanged, but reduced the EU wheat output to 138.4 million tons, lower than the expected 139.4 million tons last month; Britain’s wheat production was also reduced from 15 million tons to 14.3 million tons.

Russia’s wheat production increased by 2 million tons, from 72.5 million tons expected earlier to 74.5 million tons.

In 2021 / 22, the ending global wheat inventory decreased by 2.62 million tons to 275.8 million tons, including 980000 tons in EU, 500000 tons in Australia, 300000 tons in Ukraine and 200000 tons in Argentina. But Russian wheat stocks increased by 500000 tons.

Source: USDA

Post time: Nov-15-2021