World wheat production in 2017/18 MY will increase by 10 million tons

World wheat production in 2017/18 MY will amount to 742 million tons, which is 10 million tons more than the July forecast.

This is reported by the International Grains Council (IGC).

It is noted that the world wheat production in 2017/18 MY will decrease by 12 million tons compared to 2016/17 MY.

In this case, the world wheat trade in 2017/18 MY will amount to 172 million tons, which is 2 million tons more than the July forecast and 3 million tons less than in 2016/17 MY.

At the same time, the forecast of wheat consumption in 2017/18 MY is increased by 3 million tons (up to 738 million tons) as compared to the July forecast.

Earlier it was reported that from the beginning of 2017/18 MY as of August 23, 2017, Ukraine exported 5.04 million tons of grain, which is 86 thousand tons more than the same period last year.