IGC analysts raised their forecast for world wheat production in 2023/24 MY

According to the October forecast of IGC analysts, global wheat production in 2023/24 MY will reach the second highest level on record and could reach 784.9 million tons, compared with 783.5 million tons according to the preliminary forecast (803.4 million tons in 2022/2024). 23 MG). In particular, experts increased the forecast for the grain harvest in the Russian Federation - to 89 (87.4; 95.4) million tons, in Ukraine - to 27.4 (25.9; 26.3) million tons and in the USA - to 49.3 (47.2; 44.9) million tons. At the same time, downward adjustments were made to grain production for Argentina - to 15.6 (16.6; 12.6) million tons and Australia - to 24.4 (25.4; 39.7) million tons, 132.4 (132.5; 133.8) million tons. Analysts also noted that due to a long drought in mid-summer and then excessive rains, the condition of crops and the prospects for the wheat harvest in Kazakhstan deteriorated significantly - to 12.5 (13; 16.4) million tons. The forecast for world wheat exports in the current ...