The Forecast of World Wheat Production in 2017/18 MY is Reduced by 2 Million Tons

The forecast for world wheat production in 2017/18 MY is reduced to 737.83 million tons (-1.7 million tons) compared to the June forecast (739.53 million tons).

This information was reported by the US Department of Agriculture (USDA).

At the same time, compared with 2016/17 MY, wheat production will decrease by 16.48 million tons (754.31 million tons in 2016/17 MY).

It was noted that the world wheat export is estimated at 178.42 million tons, which is by 0.13 million tons less than the June forecast and by 3.22 million tons less compared with 2016/17 MY.

Let us remind that in 2017, Ukraine will collect about 24 million tons of wheat, and the export potential for this crop will reach 15 million tons.