Business Forecast
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IGC lowers wheat production forecast | 2021-08-02

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LONDON — The International Grains Council on July 29 lowered its forecast for 2021-22 world wheat production by 1.3 million tonnes, to 788.1 million tonnes, still a record world outturn and compared with 773.4 million tonnes in 2020-21. The IGC said its lower production forecast was tied to downgrades for crop prospects in the United States, Canada and Russia, which more than offset higher production projections for Pakistan, Brazil, the European Union, the United Kingdom and Australia.

The IGC forecast US wheat production this year at 47.5 million tonnes, down 3.6 million tonnes, or 7%, from its June projection and down 2.2 million tonnes, or 4%, from 49.7 million tonnes in 2020.

“The US winter wheat harvest was delayed by wet conditions but made better progress in the second half of July, reaching 84% done by 25 July (81% average),” the IGC noted. “Crop quality was reported to be mixed,

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Business Forecast
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US wheat carryover forecast unchanged | 2021-02-10

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WASHINGTON — In its Feb. 9 World Agricultural Supply and Demand Estimates report, the US Department of Agriculture made mostly minor, off-setting, by-class changes to wheat exports, imports, and food use. As a result, the all-wheat 2021 carryover projection for 2021 was unchanged from the January report.

The carryover of US wheat on June 1, 2021, was forecast at 836 million bus, unchanged from the January estimate and down 192 million bus, or 19%, from 1,028 million bus in 2019-20.

Domestic all-wheat supply and demand forecasts were left unchanged from January, including beginning stocks at 1,028 million bus, production at 1,826 million bus, and imports at 120 million bus, for a total supply of 2,974 million bus.

Forecasts for food, seed, and feed and residual use of all-wheat also were unchanged from January at 965 million, 63 million and 125 million bus, respectively, for a total domestic use of 1,153

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