The hard wheat excessive food price variability is more than 140 days in low volatility.
The estimate for this year’s global wheat production in the AMIS Market Monitor has been raised since the previous report to also an all-time high, mostly on improved yield prospects in many countries.
- Wheat production forecast for 2020 now points to a new record following this month’s upward revisions in Australia, the EU, and the Russian Federation.
- Utilization in 2020/21 expected to grow at slightly faster pace than projected earlier, supported by stronger feed use in China.
- Trade in 2020/21 (July/June) scaled up m/m on more brisk import demand, especially by China and Egypt.
- Stocks (ending in 2021) lifted by almost 3 million tonnes following this month’s upwards revisions in the EU, the Russian Federation, and Ukraine.