Global wheat prospects stymied by weather and the war, with lower corn production
Wheat
Maize (Corn)
Published May 18, 2022
Tridge summary
In its monthly Grain: World Markets and Trade report yesterday, the USDA’s Foreign Agricultural Service (FAS) indicated that, “Global [wheat] production is forecast at 775 million tons, down 4 million from the previous year. The largest cut to production is in Ukraine, which is projected to have a crop one-third smaller than the prior year with reduced harvested area and lower yields due to the ongoing war with Russia.
Original content
In its monthly Grain: World Markets and Trade report yesterday, the USDA’s Foreign Agricultural Service (FAS) indicated that, “Global [wheat] production is forecast at 775 million tons, down 4 million from the previous year. The largest cut to production is in Ukraine, which is projected to have a crop one-third smaller than the prior year with reduced harvested area and lower yields due to the ongoing war with Russia. “Australia is expected to have a smaller crop, down from last year’s record, on reduced harvested area and yields. Production in Morocco is forecast at the lowest since 2007/08 because of severe drought conditions. The crop in India is down as heatwaves have damaged yields in prominent northern growing states. European Union production is forecast modestly lower from the previous year. China, the second-largest global producer, is also expecting a slightly smaller harvest. “The largest year-over-year growth in production is expected in Canada, where area and yield ...
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