The global wheat outlook for the 2022/2023 season is for lower supplies. That’s according to the latest World Agricultural Supply and Demand Estimates (WASDE) report released by the United States Department of Agriculture (USDA) on 10 June.

Wheat supplies are expected to be lower. However, consumption is also expected to reduce and ending stocks are estimated to be slightly lower.

The report stated: “Supplies are decreased by 1.7 million tons to 1,052.8 million as lower production in India more than offsets an increase for Russia.”

In the US wheat supplies for 2022/2023 were raised. Supplies were raised 1.737m bushels, an increase of 8m bushels from last month.

The WASDE report noted: “Projected 2022/23 world ending stocks are lowered 0.2 million tons to 266.9 million, a six-year low.”

Coarse grains

Looking at coarse grains and global coarse grain production is forecast 3.3m tonnes higher to 1,479.2m.

The report raised maize production for Ukraine, based on higher area.

Barley production was lowered in the EU due to declines in mainly Spain and France and partly offset by increased estimates for Germany.

Barley production for Australia and Ukraine was reduced in the report based on declines in areas.

In the US the beginning stocks for maize are reported to be up 45m bushels, mostly due to a decline in exports in 2021/2022.

Oilseeds

Oilseed production for the 2022/2023 season is lowered by 0.3m tonnes to 646.8m tonnes. The report states that lower sunflowerseed is partly offset by higher rapeseed and soybean output.

The report stated sunflowerseed production is lowered and soybean production is raised for Ukraine. Rapeseed production is raised for Australia due to a higher harvest area.

Looking at soybeans and Argentina’s soybean production for the 2021/2022 season is raised 1.4 million tonnes as yields were higher than expected. Brazil’s production was also raised by 1m tonnes to 126 million tonnes based on a reported higher area.