This report will influence global grain prices: June production forecasts are lower

World wheat market The USDA forecasts production to decline by 7.44 million tonnes to 790.75 million tonnes, with supplies reduced by 5.7 million tonnes to 1.050 billion tonnes, with significant production cuts in Russia, Ukraine and the EU only partially offset by larger initial wrestling in the world. Production for Russia was cut overall for winter wheat by 5.0 million tonnes to 83.0 million tonnes as hot and dry weather lowered crop prospects after May frosts. In Ukraine, production was reduced by 1.5 million tonnes to 19.5 million tonnes due to similar hot and dry weather conditions. The EU forecast was lowered from 1.5 million tonnes to 130.5 million tonnes after prolonged wet weather in France reduced crop potential. Global wheat consumption fell by 4.3 million tonnes to 798.0 million tonnes, mainly due to lower feed use in the EU, Russia and Ukraine. As global supplies tighten and prices rise, wheat for feed becomes less competitive in some countries. World trade is also ...