Global 2022/23 wheat production lowered on smaller crops in India and the EU; rice output is seen as higher

Global wheat production is down this month primarily on smaller crops in India and the European Union, only partially offset by an increase for Russia, the U.S. Department of Agriculture said in its latest monthly report. It also lowered global consumption forecast and said ending stocks were also being revised down mostly on lower supplies in India. “Imports are nearly unchanged as higher imports for Iran and Pakistan are mostly offset by lower imports for Bangladesh and Sri Lanka. Exports are up for Russia, Argentina, and Uzbekistan, but mostly offset by reductions to India,” it said. The USDA said global production for 2021/22 is down slightly this month mostly on a smaller crop in Chile. Global consumption is fractionally lower as higher feed and residual use only partly offsets lower FSI consumption. “Ending stocks are revised lower mostly on reductions in Argentina, Morocco, and Egypt. Imports are revised lower with reduced demand from Morocco, Sri Lanka, and United Arab ...