Commodities Buzz: World Wheat Production Set To Fall To Six Year Low

13 May 2022 , 01:24 PM

Global wheat production is likely to fall for the first time in four years, according to a monthly update from the US government. The USDA forecast 2022-23 total global wheat output at 774.8 million tonnes, the first decline since the 2018-19 season. Global buffer stocks are expected at 267 million tonnes, down for the second year in a row and the lowest level in six years. The USDA on Thursday estimated Ukraines wheat production would fall by 35% from the year before, to 21.5 million tonnes. Powered by Commodity Insights