Global wheat production in MY 2017/18 to decrease to 748 million tons

Global wheat production in MY 2017/18 should amount to 748 million tons, which is 6 million tons less compared to MY 2016/17.

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

Global wheat trade in MY 2017/18 will remain at the level of September forecast and amount to 174 million tons, which is 2 million tons less than in MY 2016/17.

The forecast for wheat consumption in MY 2017/18 is increased by 1 million tons (up to 741 million tons) as compared to the September prognosis.

Earlier it was reported that Ukraine from the beginning of 2017/18 MY as of October 25, 2017 exported 12.92 million tons of grain, which is 110,000 tons less than the same period last year.