The U.S. Department of Agriculture to improve their estimates of grain export
Global wheat production in 2016/17 marketing year is expected to reach a record level of 738,5 million tons (0.5% more comparing to the previous marketing year. Harvest will continue exceeding consumption for the 4th year in a row.
According to AgroPortal this is shown by the data of the U.S. Department of Agriculture (USDA) in their July report. Wheat production will make 25 million tons in Ukraine, which exceeds the earlier USDA forecast.
The export volume will be 12.5 million tons, which is 1 million tons more since the previous month report. At that they expect that wheat stockpile will reach the highest level since 2010/11 marketing year, which will affect the price.
Ukrainian Ministry of USDA Policy and Food estimate grain export volume to be 39.415 million tons, which is 13% more than in the previous season.