UK wheat stocks ease harvest concerns

Published 2024년 12월 16일

Tridge summary

The United States Department of Agriculture's Foreign Agricultural Service (FAS) has reported that the UK's 2024-25 wheat beginning stocks of 3.26 million tonnes partially mitigate concerns from the second smallest harvest since 1999-2000, expected to be about 3 million tonnes smaller than the previous year at 10.9 million tonnes. Despite larger barley and oats crops, high corn imports are expected to continue due to high demand. Total feed grain consumption is predicted to decline, but demand from compounders will rise. Food, seed and industrial use is also expected to decline, along with demand from the brewing, malting and distilling sector. Corn imports are forecasted to decrease marginally but remain elevated, with increased incorporation rates in the bioethanol sector partially offsetting reduced wheat usage.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Significant wheat beginning stocks of 3.26 million tonnes for 2024-25 have partly offset concern surrounding the second smallest harvest in the United Kingdom since 1999-2000, but even the current momentum in imports means the wheat balance appears tight, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. While larger barley and oats crops will meet some of the shortfall in feed grain supply, continued high demand for imports of corn for feed is forecast to continue, the FAS said in its Dec. 11 Global Agricultural Information Network report. Though UK market observers disagree on the final size of the wheat harvest, it is estimated to be down about 3 million tonnes year on year to 10.9 million tonnes and one of the smallest crops in recent times, the FAS said. “For wheat, of most interest in 2024-25 is the very tight supply situation and the timely and significant increase in carryover stocks from 2023-24, up nearly 1 million ...

Source: UkrAgroConsult