Tridge summary
The U.S. Department of Agriculture's latest report, the World Agriculture Supply and Demand Estimate (WASDE), predicts record wheat production worldwide, with increases in the European Union, Russia, Ukraine, and the United States, leading to higher global consumption, stocks, and imports. Rice production is also expected to slightly increase, primarily in India and Brazil, resulting in higher global consumption and stocks. However, cotton trade and consumption are projected to rise, despite lower production and stocks, due to increased demand in China, Bangladesh, and Turkey. The global oilseed supply and demand forecasts have been adjusted, showing higher production and ending stocks, with the European Union's canola production receiving a boost from favorable weather conditions. The global coarse grain outlook is also revised, showing increased production, trade, and ending stocks, with changes in barley exports and imports.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The U.S. Department of Agriculture provided the following forecast for various crops in its latest World Agriculture Supply and Demand Estimate (WASDE) report: Wheat Global production is raised to a record with larger crops in the European Union, Russia, Ukraine, and the United States. Global consumption is revised higher with more feed and residual use, while global stocks are revised higher, mostly reflecting additional supplies in the European Union and Russia. Imports are raised for Turkey, Brazil, and Bangladesh, more than offsetting a reduction for the European Union. Exports are raised for Ukraine and India. The U.S. season-average farm price remains at $6.50 per bushel. Rice Global rice production is forecast slightly higher this month primarily on expanded production in India and Brazil. Global consumption is projected higher as a bump-up in India more than offsets small declines in Iran and the United Arab Emirates. Global stocks are forecast up on higher stocks mostly ...
Source: Indoasiancommodities
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