The IGC also raised its forecast for world wheat production in 2021/22
Wheat
Published Jan 18, 2022
Tridge summary
IGC analysts in a January report raised the forecast for world wheat production in 2021/22 MY to 781 million tons compared to 777 million tons in the November forecast, which is higher than last season 2020/21 (773 million tons). In particular, experts made upward adjustments for Australia - up to 35.5 million tons against 32 million tons according to the previous forecast, Argentina - up to 22.1 against 19.9 million tons, and for the EU - up to 138.2 against 138 million tons.
Original content
The forecast for world wheat exports this season was also raised by 0.4 million tons to 196.1 million tons. It is specified that the rating was increased for Argentina, Australia and Kazakhstan, but decreased for the United States, Russia and Canada. According to the January report, analysts expect world wheat stocks at 276 million tons at the level of 2721 million tons, which is higher than the November estimates (274.3 million tons), but lower than the result of the 2020/21 season (277.6 million tons). The score was raised for Argentina, Australia and the United States, and lowered for the EU and Kazakhstan. In addition, given the impact of hot and dry weather on harvest prospects in South America, IGC analysts have lowered the forecast for world soybean production in 2021/22 MY by 12 million tons compared to November to ...
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