WHEAT 2022 production forecast (Table)

WHEAT 2022 production forecast raised m/m, largely on better prospects in Australia, the EU, and especially the Russian Federation, and now pointing to a new record high.

Utilization in 2022/23 raised slightly m/m on higher anticipated feed use of wheat in the EU, but still marginally lower than the 2021/22 level due to a global contraction in feed use of wheat.

Trade 2022/23 (July/June) nearly unchanged and still forecast to fall from the 2021/22 level as a result of reduced shipments in particular from Ukraine, as well as Argentina and India, and smaller purchases from China, Iran, and Kazakhstan.

Stocks (ending in 2023) lifted m/m mostly on higher inventories in the Russian Federation based on higher harvest prospects, further boosting the anticipated rise in global stocks to 3.2 percent above opening levels.

Spurce: AMIS Market Monitor