World: More forecast for wheat, less for coarse grains

Wheat

Argentina

Brazil

Published Mar 12, 2024

Tridge summary

The USDA forecasts an increase in the global wheat supply by 800,000 t to 1,058 Mt, largely due to increased volumes in Australia, Russia, and Argentina, despite restrictions in the EU and Serbia. However, global stocks for the 2023/24 campaign are predicted to hit their lowest since the 2015/16 campaign. Meanwhile, global coarse grain production is expected to decline, primarily due to a reduced corn harvest in Ukraine, Mexico, and Russia, although this will be partially offset by increases in Argentina. Global corn stocks are also projected to decrease, largely due to a decrease in Ukraine, but this will be partially offset by an increase in Brazil.

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

The United States Department of Agriculture (USDA) estimates that global wheat supply will increase by 800,000 t to 1,058 Mt, driven by available volumes in Australia, Russia and Argentina, partially offset by restrictions in the EU and Serbia, as stated in the forecast report for the month of March (WASDE report). Global production could increase by 960,000 t in March compared to February to 786.7 Mt. Global stocks forecast for the 2023/24 campaign were reduced by 600,000 t to 258.8 Mt, the lowest level since the 2015 campaign /16. The USDA forecasts that global coarse grain production in the 2023/24 season will be 2.7 Mt lower and will fall to 1,507 Mt. Greater trade and lower ending stocks are expected compared to last month. The corn harvest will be lower in Ukraine, Mexico, and Russia, partially offset by increases in Argentina, based on a ...

Source: Agrodigital