By FWi staff
WORLD wheat production estimates remain unchanged at 583 million tonnes, despite some small adjustments for a number of countries.
But world trade estimates have slipped slightly, falling 1 million to 93 million tonnes on the back of slow milling wheat sales.
Shipments of feed wheat should be similar to last years above-average figures, said a spokesman from the International Grains Council.
“While still higher than in 1997/98, estimated exports are now lower for both the EC and the United States,” he said.
However, despite these lower predictions, estimates have been raised for Argentina and a number of smaller exporters.
World consumption has fallen, with forecasts down 2 million to 592 million tonnes.
But feed use is expected to be at an all-time high in the EU, at 39.5 million tonnes, while total feed use is estimated at 103 million tonnes. The USA is expected to use a total of 9.5 million tonnes.
World stocks are forecast 2 million up at 123 million tonnes, although they still stand 8 million tonnes below last season.
Aggregate carryover stocks in the five major exporters are projected to increase by 14 million to 55 million tonnes, noted the IGC.