Global Wheat Production Forecast at a Record
In its monthly Wheat Outlook report this week, the USDA’s Economic Research Service indicated that, “Global wheat production is forecast at a record 800.2 million metric tons (MMT), up 10.4 MMT from the May forecast. The European Union is currently forecast as the top wheat producer at 140.5 MMT, up 1.5 MMT on favorable growing conditions in France, Hungary, and Italy. While China and India are the second and third leading producers, production in those countries is largely unavailable to the global market.
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