USDA Global Production Highlights

In it's WASDE report there were several significant changes:


Australian output was raised half a million to 23.5 MMT, EU-27 production was seen up over half a million to 139.08 MMT, Canadian output up 2 MMT to 24.5 MMT and Russian production up by a million to a still rather low looking 57.5 MMT.

They resisted the temptation to drop Argy production, leaving it unchanged at 8 MMT and Ukraine output was also left unchanged at 20 MMT.


Brazilian production was left steady at 62 MMT and Argy output raise from 51 MMT to 52.5 MMT.


Chinese production was lowered 5 MMT to 155 MMT.

Global Ending Stocks

Wheat was raised only slightly to 186.73 MMT, from 186.61 MMT last month. Corn was dropped almost 3 MMT to 136.3 MMT and beans were increased more than 4 MMT to 54.79 MMT.