The USDA has lowered its forecast for global wheat stocks, but prices remain under pressure

. Despite this, exchange quotations fell by 0.4–1.5%, as demand remains weak, and July data will likely require adjustment. Key changes in the forecast for 2024/25 marketing year: Indicator June 2024 May 2024 Difference Initial stocks 268.96 million tons 269.11 million tons -0.15 Global production 799.91 million tons 799.71 million tons +0.20 Global consumption 804.9 million tons 803.62 million tons +1.28 Global exports 205.91 million tons 206.12 million tons -0.21 End-of-year stocks 263.98 million tons 265.21 million tons -1.23 Changes in the forecast for 2025/26 marketing year: Indicator June 2024 May 2024 Difference Initial stocks 263.98 million tons 265.21 million tons -1.23 Global production 808.59 ...