According to Food Business News, while the US Department of Agriculture forecast lower production, supply and use of wheat in the United States in 2020-21, the world wheat outlook was seen as altogether different. The USDA forecast record world wheat production, supplies, use, trade and ending stocks in 2020-21.
The USDA forecast world wheat production in 2020-21 at 768.49 million tonnes, up 4.17 million tonnes from 764.32 million tonnes in 2019-20, the current record outturn.
While wheat production in the United States was forecast at 50.78 million tonnes, 1.48 million tonnes lower than in 2019-20, among the major exporters, Argentina, Australia, Canada and Russia were projected to have larger crops in 2020-21. The USDA noted Australia was forecast to have the largest increase in production from 2019-20. That nation’s 2020-21 crop was projected at 24 million tonnes, up 8.8 million tonnes from 2019-20. The European Union, though, was forecast to harvest a smaller crop this year. EU wheat production was projected at 143 million tonnes, 11.78 million tonnes lower than the 2019-20 outturn of 154.78 million tonnes.