Forecast for higher world production of wheat and lower feed grains
Wheat
Published Feb 10, 2023
Tridge summary
The global wheat forecast for 2022/2023 predicts an increase in supply, consumption, trade and inventory. The U.S. Department of Agriculture's (USDA) February forecast for 2022/23 wheat shipments increased by 2.4 million tons to 1.061 billion tons, driven mainly by higher production for Australia and Russia. It also increased by 2.49 million tons to 783.80 the forecast for world wheat production. Production in Australia increased by 1.4 million tonnes to 38.0 million tonnes, which would be the third record in a row. Most of the increase is in Western Australia based on past harvests. Production in Russia increased by 1.0 million tons to 92.0 million tons with a larger area under spring wheat. The forecast for global wheat consumption increased by 1.4 million tons to 791.2 million tons, driven mainly by higher use for feed purposes in Canada, the EU and Russia, more than offsetting lower consumption for food, seeds and industrial purposes in Bangladesh.
Original content
The global wheat forecast for 2022/2023 predicts an increase in supply, consumption, trade and inventory. Higher wheat production forecast The U.S. Department of Agriculture's (USDA) February forecast for 2022/23 wheat shipments increased by 2.4 million tons to 1.061 billion tons, driven mainly by higher production for Australia and Russia. It also increased by 2.49 million tons to 783.80 the forecast for world wheat production. Production in Australia increased by 1.4 million tonnes to 38.0 million tonnes, which would be the third record in a row. Most of the increase is in Western Australia based on past harvests. Production in Russia increased by 1.0 million tons to 92.0 million tons with a larger area under spring wheat. The forecast for global wheat consumption increased by 1.4 million tons to 791.2 million tons, driven mainly by higher use for feed purposes in Canada, the EU and Russia, more than offsetting lower consumption for food, seeds and industrial purposes in ...
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