The USDA analysts published their forecast for the worldwide in August wheat production Raised to 2022 million tonnes in 23/779,6 compared to 771,6 million tonnes in July, which is also slightly higher than 2021/22 (779,2 million tonnes).
In particular, analysts increased the wheat harvest in Australia to 33 (30; 36,3) million tons, Canada to 35 (34; 21,6) million tons, China to 138 (135; 136,9) million tons, Russia to 88 ( 81,5; 75,1) million tons, Brazil to 8,7 (8,5; 7,7) million tons. At the same time, experts have the prognosis for the grain production in Argentina to 19 (19,5; 22,5) million tonnes, the EU to 132,1 (134,1; 138,3) million tonnes, India to 103 (106; 109,5) million tonnes.
The forecast for global wheat exports was also raised - to 208,1 million tons compared to 206,6 million tons according to the preliminary forecast and 204,5 million tons last year.
Thus, an increased adjustment was made by USDA analysts for Australia – up to 26 (25; 26,1) million tons, Canada – up to 26 (25; 14,9) million tons, Russia – up to 42 (40; 33 ) million tons, Ukraine – up to 11 (10; 18,8) million tons and the USA – up to 23 (22; 21,5) million tons. It should be noted that the forecast for wheat exports was lowered for such countries: EU - up to 33,5 (35,5; 31,7) million tons, Argentina - up to 13,5 (14; 17,6) million tons , India up to 4 (6; 10,4) million tons.
The experts have lowered the forecast for global wheat reserves in the current season slightly – by 0,2 to 267,3 million tons, which is also subject to the result in the 2021/22 season (276,3 million tons).
In particular, the analysts revised the inventory forecast in the USA down to 16,6 (17,3; 17,9) million tons, EU to 10,2 (10,9; 13,1) million tons, India to 11,5 (16), 5, 19,5 million tons and Ukraine to 4,2 (5,2; 5,8) million tons. At the same time, the forecast for the People's Republic of China was raised to 144,3 (141,5; 141,7) million tons and for Iran to 5,5 (5,2; 5,1) million tons.