Services Partners RU ENG USDA LOWERED THE FORECAST FOR WORLD WHEAT STOCKS, BUT NOT FOR RUSSIA The USDA has cut its estimate of world supply and forecast of ending stocks of wheat for the current season. The forecast for Russian wheat stocks was increased due to the deterioration of the export forecast. According to updated data, the world wheat production in the current season amounted to 748.24 million tons, which is 4.2 million tons less than the January estimate. Nevertheless, it far exceeded the level of the previous season - 735.6 million tons. The estimate of the wheat harvest in India was reduced by 3 million tons to 87 million tons, which is much lower than the official one. The assessment of the yield of Kazakh wheat has been revised downward - by 1.5 million tons to 14.99 million tons. The forecast for world wheat exports did not change significantly - 179 million tons, which is 6.2 million tons more than last season. The increase in the forecast for the USA, Argentina (+0.3 million tons) and Ukraine (+0.8 million tons) was offset by its decrease for Russia and Kazakhstan (-1 million tons). The forecast for US wheat exports was raised by 1.36 million tons to 27.9 million tons as actual exports exceeded expectations. Russia in the current season exports 28.5 million tons (-0.5 million tons) of wheat. The forecast for world consumption of wheat for fodder purposes was increased due to Vietnam (+1.3 million tons) and China (1 million tons). World ending stocks of wheat will be 4.7 million tons lower than forecast in January and will amount to 248.6 million tons, surpassing last year's record by 7.8 million tons. Ending stocks of wheat in Russia will grow to 11.1 ( +0.5) million tons, which is almost twice as much as in the 2015/16 season. Source: Grain Online Back to the list Contact phone +7 (495) 788-05-95 105082, Russia, Moscow, Spartakovskaya square, 16/15, building 2, item 11 Made in