Informa Economics has cut its forecast for the world’s wheat production in 2014/15 season
2014-04-17 10:51:18
Informa Economics has cut its forecast for the world’s wheat production in 2014/15 season (April-May) to 710.8 MMT against the previous forecast of 715.8 MMT and 712.8 MMT harvested in 2013/14. The new season’s wheat plantings are estimated at 220.5 Ml ha. Wheat outputs are predicted to fall in India and the U.S.
The USDA raised its forecast for the season’s global ending stocks by 2.87 MMT to 186.68 MMT. The reason is a 2.38 MMT drop in world wheat consumption, mostly due to China.