USDA: Lower global production of wheat and feed grains

Wheat

Published Dec 10, 2022

Tridge summary

Expected deliveries were lowered by 2.1 million tonnes to 1.057 billion tonnes as a result of reduced production for Argentina and Canada, which is only partially offset by higher production in Australia. In Argentina, production was reduced by 3.0 million tonnes to 12.5 million tonnes, with both a reduction in harvested area and lower yields as a result of the continued drought. This would be the lowest production since the 2015/2016 season. Canada's production has been cut by 1.2 million tons to 33.8 million tons, based on Statistics Canada's latest estimate, and is expected to be the third-largest amount ever. Australia's production rose by 2.1 million tonnes to a record 36.6 million tonnes, according to the latest forecast by the Australian Bureau of Agricultural and Resource Economics (ABARES).

Original content

Smaller world supplies of wheat The forecast for global consumption was reduced by 1.6 million tons to 789.5 million tons, mainly due to lower consumption for feed purposes in the EU and Ukraine. World trade increased by 2.2 million tons to 210.9 million tons thanks to higher exports from Australia, Ukraine, the EU and Russia more than offsetting lower exports from Argentina. Australia's exports rose by 1.5 million tonnes to a near-record 27.5 million tonnes. Due to excessive rainfall in New South Wales during the harvest season, Australia's 2022/23 supply of feed wheat is expected to be larger and competitively priced for feed grains for East Asian importers. This resulted in higher imports from South Korea and several Southeast Asian countries this month. Ukraine's exports increased by 1.5 million tons to 12.5 million tons. Argentina's exports fall by 2.5 million tonnes to 7.5 million tonnes. This would be Argentina's lowest export since the 2014/2015 season. Projected closing ...

Source: Farmer.pl