Large Global Wheat Crop Expected

Despite lower U.S. wheat production forecasted this month, the world is still expected to grow a record wheat crop this new marketing year.

“We raised our production forecast by 2.1 million tons this month.  So now we're looking at 798.3 million tons of global wheat production," noted USDA World Ag Outlook Board Chair Mark Jankowski.  He added that the world wheat production increase was supported by a handful of nations.

“Australia. We raised their production estimate by a million tons. And they've been getting some beneficial rain, especially in Western Australia.  Kazakhstan, we raised the production there by one and a half million tons to 16,000,000. That basically reflects some really unusually wet weather that they've been experiencing.  Ukraine wheat production forecast was raised 2.1 million tons that's based on government data.”

Jankowski said when you combine all of that together, it will offset reduced month over month production totals from the U.S. and the European Union.

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