World wheat production forecast increases while feed grains decline
Wheat
India
Russia
Published Apr 14, 2023
Tridge summary
According to the U.S. Department of Agriculture (USDA), the global 2022/23 wheat outlook predicts increased supplies, higher production and consumption, and reduced trade and inventory. The April forecast for the market of feed grains assumes decreases in production, trade and ending stocks.
Original content
Growth in the forecast for the global wheat market Wheat production forecast rose to 789.02 million tons and deliveries rose 0.7 million tons to 1.061 billion tons, mainly thanks to higher initial stocks in Syria and increased production in Ethiopia. Global consumption increased by 2.9 million tonnes to 796.1 million tonnes, mainly due to higher food, industrial and seed use in India and increased feed use in China and the EU. World trade fell by 1.2 million tonnes to 212.7 million tonnes due to reduced exports from the EU, Argentina and Brazil, more than offsetting increases in Russia and Ukraine. Wheat imports to China increased by 2.0 million tons to 12.0 million tons, the highest import to China since 1995/1996. Imports to China are boosted by existing strong imports, especially from Australia. China is now the world's leading importer of wheat in the 2022/2023 season. Projected world stocks at the end of the 2022/23 season have been cut by 2.1 million tons to 265.1 million, ...
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