The US increases global wheat consumption forecast

Expectations regarding global wheat consumption are improving again. This is evident from the latest Wasde grain report from the United States Department of Agriculture (USDA). In the December issue, USDA reports a higher estimate of feed consumption in the European Union, Thailand and South Korea compared to last month’s estimate. In addition, it is thought that China will consume more wheat through human nutrition and industrial use. Last year, global wheat consumption stagnated at 792 million tons, according to USDA figures. This year, consumption appears to increase slightly, although the difference is still limited to less than 3 million tons. In percentage terms, this amounts to an increase of 0.3 to 0.4%. Since the jump of almost 5% to a consumption of 782 million tons in 2020-21, not much has changed in global wheat consumption. In Australia, a harvest of 25.5 million tons is now expected, which is 1 million tons more than the November USDA estimate. Despite this ...