2014/15MY forecast for global wheat yield was increased — USDA

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According to USDA’s latest report, in 2014/15MY wheat production is expected to grow to 722.18 million tons, this is by 2.32 million tons more than was forecasted a month earlier; and, exceeds last season’s results (714.77 million tons).

Forecast for gross grain harvest was increased for Canada — to 29.3 (27.5; 37.53) million tons and Kazakhstan — to 12.5 (12; 13.94) million tons.

As to the forecast of global ending stocks of wheat in 2014/15 MY, it was increased by 2 million tons — to 194.9 million tons, which is well above last year’s results (185.3 million tons). In particular, the upward adjustment was made for the EU countries — to 17.06 (16.56; 10.16) million tons, Canada- to 6.75 (5.95; 9.8) million tons, Russia — to 7.41 (6.91; 5.21) million tons and the United States — to 17.81 (17.53; 16.05) million tons. For Ukraine, however, this figure has been reduced to 5.92 (6.22; 3.67) million tons.