World: Wheat production in the world will amount to 757.000.000 t

The world’s wheat production in the current MY will be 757.000.000 t, which is 8.000.000 t higher that the forecast for November.

Such information was provided by the International Grains Council.

The forecasts for wheat turnover in the international market in the current MY will remain the same as in November and amount to 174.000.000 t, which is 2.000.000 t less than the indicator of 2016/17 MY.

However, the forecasted wheat consumption in the current MY will be 744.000.000 t, which is 2.000.000 t higher than the November forecast.

It should be recalled that the export of grain since the beginning of 2017/18 MY amounted to 22.390.000 t, which is 2.590.000 t less than last year.

World wheat production is one of the most important events for the world grain market. According to experts’ forecasts, wheat production will amount to 757 million tons, which is 2.3% more than last year. This is due to the increase in the area of wheat crops in various countries, as well as the improvement of climatic conditions.

In the world grain market, wheat is one of the main crops that are exported from various countries of the world. The main exporters of wheat are Russia, the USA, Canada, Australia, Ukraine, Kazakhstan and other countries. A favorable situation on the world wheat market can have a positive effect on the export opportunities of various countries and on the growth of their economies.

However, the world production of wheat can also be exposed to the risk of adverse climatic conditions, which can negatively affect productivity. This may lead to an increase in wheat prices, which may have a negative impact on consumers and producers of products on the world market.

Thus, world wheat production is an important factor for the world economy and the world grain market. It is necessary to follow the current situation on the market and forecasts of experts in order to determine opportunities for improving export opportunities.