World wheat production in 2017/18 MY will increase to 748 million tons

World wheat production in 2017/18 MY will amount to 748 million tons, which is 4 million tons more than the forecast for August.

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

It is noted that world wheat production in 2017/18 MY will decrease by 6 million tons compared to 2016/17 MY.

World wheat trade in 2017/18 MY will amount to 174 million tons, which is 2 million tons more than the previous forecast and 2 million tons less than 2016/17 MY.

At the same time, the forecast for wheat consumption in 2017/18 MY is increased by 4 million tons (up to 742 million tons) as compared to the August prognosis.