According to USDA, world wheat production continued at its record pace in September. The Department’s latest global balance sheet shows wheat production up 3.4 million tons from August. World Outlook Board Chair, Mark Jekansowski, said several nations reported month-over-month production increases.
“Small changes in European Union’s some increases ins production in Bulgaria and Romania. And we also increased out wheat production for China and also increased our India forecast.”
Plus, a million and a half ton increase in Australian wheat production. These offset lower production forecasts for both Canada and Argentina.
“Canada production, really not a big surprise there given how dry its been in that prairie region of the country. Also pulled down our forecast for Argentina and that reflects relatively dry conditions as of late.”
Even with that lower production forecast, Argentina is still expected to have a record wheat crop.
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