World Wheat Numbers Move Higher Thanks To Black Sea Region

While U.S. wheat production forecasts were lowered this month, thanks to a projected drop in winter wheat production, USDA's June World Wheat Supply and Demand Estimates reflect other nations contributing to a one million ton month-over-month production increase.

“The increase this month for world wheat production is driven by a very good outlook for the crops in the Black Sea region, in particular Russia and Ukraine," said World Agricultural Outlook Board Chair Mark Jekanowski.  "We raised Russia's wheat production forecast by two million tons, now at 88 million. Also raised Ukraine by half a million tons to 23.5 million tons. The growing conditions have been nearly ideal.  They've been getting a lot of rain throughout the spring, not too hot, so favorable temperatures. And that's really been supporting the outlook for their winter wheat production.”

Jekanowski said in addition to the U.S., Australia is also expected to produce less wheat than forecasted in May.

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