USDA Estimates Sharp Rise In Global Wheat Production In 2013-14 As per the latest release from the United States Department of Agriculture ( USDA ) , the total global production of wheat in 2013-14 is projected higher by 2.97 million tonnes from the last month to reported at 697.97 million tonnes. This is mainly due to strong production from Australia, EU-27 and U.S due to favourable crop conditions in these countries. In U.S., Production is raised 11 million bushels for Hard Red Winter and 30 million bushels for Soft Red Winter (SRW) wheat. White Winter wheat is forecast down 7 million bushels. For durum, a reduction in area is only partly offset by a higher yield with production forecast down 5 million bushels. The global wheat consumption for 2013/14 is surged sharply to 699.89 million tonnes with strong export demand, especially from SRW feed. USDA reported the global wheat exports are raised to 148.70 million tonnes in 2013-14 due to strong exports from U.S and Australia. While the global ending stocks are reported lower at 9 million tonnes to reach 172.30 million tonnes. This would be the lowest since 2008-09. The projected range for the 2013/14 season average farm price is raised 20 cents on both ends to $6.45 to $7.75 per bushel. At the $7.20-perbushel midpoint, this would be down from the record $7.77 per bushel reported for 2012/13
Posted on: Fri, 12 Jul 2013 04:52:47 +0000
Recently Viewed Topics
© 2015