Supply & Demand - Wheat
last release: 4 April 2024
2022/23 | 2023/24 | ||
|---|---|---|---|
estimate | 7 Mar | 4 Apr | |
Production | 806.2 | 787.3 | 787.8 |
Supply | 1105.8 | 1110.1 | 1112.2 |
Utilization | 779.9 | 793.3 | 795.4 |
Trade | 200.2 | 197.5 | 198.7 |
Ending Stocks | 324.4 | 318.9 | 317.9 |
in million tonnes | |||
- Wheat production in 2023 revised upwards fractionally m/m with slightly higher estimates in Argentina and Australia, but still 2.3 percent below the 2022 global output.
- Utilization in 2023/24 lifted , now surpassing the 2022/23 level by 2.0 percent, underpinned by higher feed use in Argentina and other use in the UK.
- Trade in 2023/24 (July/June) raised with higher sales from the Russian Federation and stronger import demand from the EU, Thailand, and the UK, but still falling 0.7 percent below 2022/23.
- Stocks (ending in 2024) declining 2.0 percent below opening levels after downward revision mostly attributed to a cut in the Russian Federation’s inventories.