USDA analysts increased the forecast of wheat exports from Ukraine in 2023/24 MY

Published 2024년 2월 9일

Tridge summary

The USDA's February 2023/24 report predicts a slight increase in global wheat production to 785.74 million tonnes and a rise in exports to 210.69 million tonnes. However, ending wheat stocks are expected to decrease slightly to 259.44 million tons. The wheat harvest forecasts for Ukraine, the United States, and China remain steady at 23.4 million tonnes, 49.31 million tons, and 136.59 million tonnes respectively.

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

Original content

The world wheat production in 2023/24 season is forecasted at 785.74 mln tonnes (+0.83 mln tonnes). This is evidenced by the USDA report for February. Analysts raised the forecast of world wheat exports by 1.15 mln tonnes to 210.69 mln tonnes. Experts estimated the forecast of ending wheat stocks in the world at 259.44 million tons (-0.59 million tons). USDA experts left unchanged their forecast of wheat harvest in Ukraine in 2023/24 MY – 23.4 mln tonnes. The export estimate increased to 15 mln tonnes (+1 mln tonnes). The forecast of ending stocks was reduced by 0.4 mln tonnes to 3.98 mln tonnes. The forecast for the wheat harvest (49.31 million tons) in the United States remained unchanged. Exports will be at the level of 19.73 million tons. The ending stocks of wheat in the United States will amount to 17.9 million tons, which is 0.28 million tons less than the previous forecast. Forecast for the main wheat ...

Source: UkrAgroConsult