World wheat export in 2016/17 MY will reach 180 million tons

In the current season, world wheat export will reach another record of 180.3 million tons (+4.3%) due to the record yields in many top exporting countries and low world prices.

This is reported by UkrAgroConsult.

In general, the current rates of export shipments from the main exporting countries exceed the last year volumes for the same period by 10 million tons (+ 8%). Ukraine was able to increase its share in all major areas, pushing other suppliers, except for the markets of Thailand and Spain.

World wheat exports in 2017/18 MY are forecast to be lower than last year's at the rate of 178.55 million tonnes (-1.75 million tonnes) due to the expected lower consumption of fodder wheat in favor of corn. The export potential of the main wheat suppliers is also expected to reduce due to the drought in Ukraine, the EU, Australia, the United States.

We would like to remind that the forecast for world wheat production in 2017/18 MY increased to 739.53 million tonnes (+1.7 million tonnes) compared to May forecast (737.83 million tonnes).