Wasde report: Closing stocks of wheat at 267 million tons

In the coming season 2022-23, lower production, smaller consumption, increasing trade and a shrinking of closing stocks can be expected for wheat worldwide. That is the forecast of the United States Department of Agriculture USDA, in its latest Wasde monthly report, on the national and global agricultural products market. World wheat stocks have been revised down slightly to 267.3 million tons. The lower production in Argentina and Canada is only partly offset by a higher Australian harvest.