by
Rebecca Sherratt, Features Editor, Milling and Grain
World wheat production is continuing to increase as many countries get back into the swing of things following the initial surge of the COVID-19 pandemic.
Global wheat production has now hit a record-breaking 766 million metric tonnes (mmt), with production seeing a sharp increase in Argentina, Russia and Canada. The EU and United States are not experiencing this same increase but continue production at a steady level. Across the globe, countries are producing record amount of wheat, especially India and China, which is surprising, considering that they are countries not traditionally known for record levels of wheat export.
Global ending stocks are at a record high, at an estimated level of 317mmt. Should this estimate come to fruition, this volume would be a five percent increase compared to the 2019/20 harvest year. In contrast, US ending stocks are currently the lowest in six years and expected to decrease another 11 percent this year.
The US has seen lower imports and higher exports in recent months. Imports of wheat have lowered by 10 million bushels in August to 130 million. Food use in 2019/20 has lowered slightly to 962 million bushels. This is estimated to decrease slightly to 960 million bushels in 2020/21, due to the closure of restaurants and eating out services as a safety precaution against COVID-19. Other countries experiencing production drops include Kazakhstan and Turkey, both experiencing 1mt drops.
Complications are arising in Iowa, USA, where in mid-August a severe storm damaged maize crops and silos in the area. The total damage is expected to have reduced Iowa’s maize production by up to 18 percent whilst also destroying a significant amount of available storage for future harvests. December 2020 Chicago maize figures are now expected to experience an increase in prices, as a result of the unexpected shortage.
Read more HERE.
World wheat production is continuing to increase as many countries get back into the swing of things following the initial surge of the COVID-19 pandemic.
Global wheat production has now hit a record-breaking 766 million metric tonnes (mmt), with production seeing a sharp increase in Argentina, Russia and Canada. The EU and United States are not experiencing this same increase but continue production at a steady level. Across the globe, countries are producing record amount of wheat, especially India and China, which is surprising, considering that they are countries not traditionally known for record levels of wheat export.
Global ending stocks are at a record high, at an estimated level of 317mmt. Should this estimate come to fruition, this volume would be a five percent increase compared to the 2019/20 harvest year. In contrast, US ending stocks are currently the lowest in six years and expected to decrease another 11 percent this year.
The US has seen lower imports and higher exports in recent months. Imports of wheat have lowered by 10 million bushels in August to 130 million. Food use in 2019/20 has lowered slightly to 962 million bushels. This is estimated to decrease slightly to 960 million bushels in 2020/21, due to the closure of restaurants and eating out services as a safety precaution against COVID-19. Other countries experiencing production drops include Kazakhstan and Turkey, both experiencing 1mt drops.
Complications are arising in Iowa, USA, where in mid-August a severe storm damaged maize crops and silos in the area. The total damage is expected to have reduced Iowa’s maize production by up to 18 percent whilst also destroying a significant amount of available storage for future harvests. December 2020 Chicago maize figures are now expected to experience an increase in prices, as a result of the unexpected shortage.
Read more HERE.
The Global Miller
This blog is maintained by The Global Miller staff and is supported by the magazine Milling and Grain
which is published by Perendale Publishers Limited.
For additional daily news from milling around the world: global-milling.com
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