Global wheat production forecast in 2018/19 lowered by 2 MT

The forecast for global grain production in MY2018/19 is reduced by 2 million tons to 739 million tons (the previous forecast: 741 million tons), International Grains Council (IGC) informs.

As compared with MY2017/18, the global wheat production in MY2018/19 should decrease by 19 million tons.

The global wheat trade is projected at 179 million tons, which is 4 million tons more than in MY2017/18.

Reference: wheat exports from the beginning of MY2017/18 as of April 25, 2018, amounted to 14.89 million tons, which is 564 thou. tons less than for the same period last year.