According to USDA's June WASDE Report, the outlook for 2023/24 global wheat this month includes:
- Larger supplies, higher consumption, increased trade, and larger stocks.
- Supplies are projected to increase 10.8 million tons to 1,066.9 million, primarily on larger production for Russia, India, the EU, and Ukraine.
- Russia is raised 3.5 million tons to 85.0 million, all for winter wheat, on generally favorable conditions after abundant spring precipitation.
- India is increased 3.5 million tons to 113.5 million, mainly on the government’s third Advanced Estimate.
- The EU is raised 1.5 million tons to 140.5 million on continued favorable winter wheat conditions for most of the EU member countries.
- Ukraine production is increased 1.0 million tons to 17.5 million on favorable weather conditions in southern Ukraine but production remains below last year on reduced harvested area.
Global coarse grain production for 2023/24 is forecast 3.8 million tons higher to 1,513.3 million. This month's outlook includes:
- Larger production, trade, and ending stocks relative to last month.
- Corn production is raised for Ukraine, reflecting higher area based on data reported by the government.
- For 2022/23, corn production is lowered for Argentina but raised for Brazil.
- Foreign barley production for 2023/24 is slightly higher, reflecting increases for Ukraine, the EU, and Turkey that are partly offset by reductions for India and Iran.