Global: Wheat exports will increase by 1 million tons in 2024/25, USDA forecast

In 2024/25 MR, Ukraine's indicators for wheat will increase compared to the previous forecast: production - by 0.6 million tons to 22.9 million tons, export - by 1.0 million tons to 16.0 million tons. The dynamics of corn will be the opposite : both production and export are reduced by 1.0 million tons to 26.2 million tons and 23.0 million tons, respectively. This was reported by the press service of UKAB, referring to the updated global forecast of the balance of major agricultural crops for the 2024/25 marketing year from the US Department of Agriculture (USDA). The updated forecast of the world wheat market for 2024/25 MY predicts, if compared with the forecast of the previous month, an increase in initial stocks, a reduction in production, consumption, trade, but at the same time an increase in final stocks. The forecast of world wheat production in 2024/25 MR decreased by 2.8 million tons to 794.1 million tons. First of all, such a reduction is expected in the EU (-1 million ...