A rebound in wheat production down in Australia is expected to add to a record global production estimate for this season. USDA World Agriculture Outlook Chairman, Mark Jekanowski, said this year’s crop looks to be impressive.
“Off to a new record of 33 million metric tons more than doubled last year’s production Australia had suffered from about three years of really devastating drought so this is a big turnaround for them and a huge increase in production globally.”
Jekanowski estimated for this marketing year at almost 777 million metric tons. Also increasing in the world balance sheet is use as feed.
“Especially in China this month we raised out China wheat, feed, and residual forecast by over five million tons to a new record high.
And when looking ahead to March.
“Ending stocks come down a bit in our forecast, but we’re still forecast at a record high of over 300 million tons,” Jekanowski noted.
If you have a story idea for the PNW Ag Network, call (509) 547-1618, or e-mail [email protected]