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AMIS Market Monitor

last release: December 2020

Supply & Demand

2019/20

2020/21 

estimate

5 Nov

3 Dec

Production

762.0

762.7

761.7

Supply

1033.7

1038.5

1038.3

Utilization

749.5

758.0

757.6

Trade

184.6

184.5

184.5

Ending Stocks

276.6

281.0

282.9

in million tonnes

  • Wheat production forecast for 2020 trimmed m/m as downgraded prospects in Argentina and Brazil, as well as a reduced estimate for Kazakhstan, outweighed an upward revision for Russia.
  • Utilization in 2020/21 seen increasing by 1.1 percent from 2019/20 driven by food use, while feed demand is seen constrained by reduced price competitiveness.  
  • Trade in 2020/21 (July/June) remains close to the 2019/20 record and unchanged m/m with larger sales from the Russia offsetting lower shipments from Argentina.  
  • Stocks (ending in 2021) lifted by 1.9 million tonnes mostly on an upward correction to the previous estimate of opening stocks in the EU, as well as further adjustments to China’s inventories.