USDA: Lower world wheat and feed grain production forecast

Wheat market The forecast for global wheat production decreased from 798.28 to 796.88 million tonnes. Global consumption increased by 0.9 million tonnes to 804.9 million, mainly due to higher feed and residue use in several countries, more than offsetting reductions in the EU. Global trade increased by 1.7 million tonnes to 216.5 million tonnes, as higher exports from Australia, Canada and Ukraine more than offset reductions from the EU. Global final wheat stocks in 2024/25 are forecast to increase by 0.6 million tonnes to 257.2 million tonnes, driven by increases in Canada, Brazil and Kazakhstan, more than offsetting reductions in Australia, Turkey and several other countries. Feed Grain Market The September feed grain forecast for 2024/25 is for lower production, virtually unchanged trade and reduced stocks compared to last month. USDA expects global feed grain production in 2024/25 to be 1.8 million tons lower, falling to 1.502 billion tons. It also forecasts lower corn ...