USDA: World wheat production forecast increased in April and feed grain production forecast decreased

Wheat market Supplies will increase by 0.6 million tonnes to 1.058 million tonnes due to increased production estimates for the EU, Moldova and Pakistan. Production is expected to increase by 0.66 million tons to 787.36 million tons. The global consumption forecast increases by 1.1 million tonnes to 800.1 million tonnes. Food, seed and industrial consumption in India rose by 2.0 million tonnes to 106.2 million tonnes this month. The latest monthly stock reports released by the Food Corporation of India show continued selling in the open market as the Indian government tries to curb food price inflation ahead of elections that begin later this month. Global consumption for feed and residues is projected to be lower due to reductions in Russia and the US, which will only be partially offset by increased use in the EU. The forecast increase in global wheat trade in the 2023/2024 season will increase by 1.3 million tonnes to 213.5 million, mainly due to higher export forecasts for ...