USDA predicts record wheat stocks

By Malcolm Bartholomaeus
Updated July 2 2021 - 1:39am, first published May 13 2019 - 10:25am
Table 1: Weekly move in wheat prices. Source: Malcolm Bartholomaeus
Table 1: Weekly move in wheat prices. Source: Malcolm Bartholomaeus

The May USDA report covering World Agricultural Supply and Demand Estimates has given us our first look at its 2019/20 projections, and for wheat it is not pretty. Global production is expected to rebound sharply from last year's reduced global crop, and while consumption will also lift, it won't be enough to prevent global wheat stocks from growing to a new record level.

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