USDA analysts in July lowered their forecast for 2022/23 global wheat production to 771,6 million tons, compared to 773,4 million tons according to the preliminary forecast, which is also below the result of the previous season (779 million tons). .
In particular, downward adjustments were made to include Argentina – up to 19,5 (20; 22,15) million tonnes, EU – up to 134,1 (136,1; 138,4) million tonnes, Ukraine – up to 19,5 (21 , 5;33) million tons. At the same time, the crop forecast in Canada was increased to 34 (33; 21,6) million tons, the Russian Federation to 81,5 (81; 75,1) million tons and the USA to 48,4 (47,2; 44) million tons.
The forecast of global exports of Wheat in 2022/23 several analysts have increased to 206,6 million tons compared to 205,4 million tons on the Iyun forecast that the above results of last season (201,6 million tons). Thus, in Brazil, this forecast was increased to 3 (2,8; 3,1) million tons, Canada to 25 (24; 15) million tons and the USA increased to 22 (21; 21,75) million tonnes, while it decreased to 14 (14,5; 17,6) million tonnes in Argentina and to 35,5 (36; 29,5) million tonnes in the EU.
The forecast for the world wheat reserves in the new season has also been raised to 267,5 (266,8; 280,1) million tons by the improvement adjustments made by the analysts for Algeria to 4,1 (3,9; 4,9 ) million tons and the USA to 17,3 (17; 17,9) million tons. In turn, experts lowered the forecast for final stockpiles in Ukraine to 5,2 (6; 5,8) million tons.