Forecast of more world production of wheat and less feed grains, according to the USDA
Wheat
Argentina
South Africa
Published Mar 11, 2024
Tridge summary
The US Department of Agriculture (USDA) has forecasted an increase in global wheat supplies by 0.8 million tonnes to 1.058 billion tonnes, primarily driven by Australia, Russia, and Argentina. The global wheat production is also expected to rise by 0.96 million tons to 786.7 million tons, and consumption by 1.5 million tons to 799.0 million tons. However, a decrease is expected in global feed grain production by 2.7 million tons to 1.507 billion tons in the 2023/2024 season, with corn production also predicted to be lower. Global barley production is also experiencing a decline, with reductions in Iraq and Syria being partially offset by increases in Australia.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
World wheat market The US Department of Agriculture (USDA) forecasts wheat supplies to increase 0.8 million tonnes to 1.058 billion tonnes, driven by available quantities in Australia, Russia and Argentina, partially offset by restrictions in the EU and Serbia. Forecasts in March, global production is expected to increase compared to February by 0.96 million tons to 786.7 million tons, and global consumption by 1.5 million tons to 799.0 million tons. World trade is expected to increase by 1.4 million tonnes and reach 212.1 million tonnes thanks to higher exports from Ukraine, Australia and Turkey. Forecast global primary stocks for the 202320/24 season were reduced by 0.6 million tonnes to 258.8 million tonnes, the lowest level since the 2025/2016 season. Feed grain market USDA forecasts that global production of feed grains in the 2023/2024 season will be 2.7 million tons lower and will drop to 1.507 billion tons. The feed grain forecast for this month is for reduced production, ...
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