The global wheat crop is expected to be another record-breaker this year. USDA’s Outlook Board says it is because of several growing regions.
“Australia - we raised their production estimate by a million tons, and they’ve been getting some beneficial rain, especially in the west. Kazakhstan, we raised the production there by one and a half million tons to 16,000,000. That basically reflects some really unusually wet weather that they’ve been experiencing. Ukraine’s sweet production forecast was raised by 2.1 million tons, and that’s based on government data,” said Mark Jekanowski.
He says those increases help offset the month-over-month declines in U.S. production.
