USDA October forecast shows lower global wheat and feed grain production

The article provides an overview of the global wheat and feed grain markets for the 2024/25 season. It highlights a decrease in wheat supplies by 1.9 million tonnes to 1.060 billion tonnes, attributed to reduced production in the EU, Russia, India, and Brazil. This decline in supply was partially balanced by higher production in Ukraine and opening stocks in Russia. Global consumption also saw a decrease by 2.4 million tonnes to 802.5 million due to lower use in India and Afghanistan.

The wheat market also anticipated a decrease in global feed grain production by 2.3 million tonnes to 1.5 billion tonnes. The forecast for corn production was adjusted down by 1.4 million tonnes to 1.217 billion tonnes, with reductions in key producing countries like Ukraine, Egypt, Russia, and the Philippines, but partial offsets from growth in India. Barley production estimates also saw reductions, especially in Russia, the EU, and the UK, but with increases in Argentina and India. The article outlines shifts in global corn trade, including reduced exports from Ukraine and Russia, balanced by growth in the US, and adjusted import/export patterns for China, Iran, Egypt, and the Philippines.