WORLD WHEAT OUTPUT REVISED DOWN BY USDA
Global wheat production in the 2024/2025 marketing year was revised down sharply by USDA in its monthly WASDE report yesterday. The agency now sees world output at 790.8 million metric tons, down from the May forecast for 798.2 million tons. USDA slashed its forecast for Russian wheat production to 83 million metric tons from 88 million a month earlier. Dry weather during parts of the growing season and an early May frost likely curbed output. The country’s grain union said the frost affected 15% to 30% of the wheat crop.
U.S. wheat production in the 2024/2025 marketing year that started on June 1 is now pegged at 1.875 billion bushels, up from the prior forecast for 1.858 billion bushels, USDA said. Winter wheat output is projected at 1.295 billion bushels. Hard red winter production is seen at 726 million bushels, soft red winter output is forecast at 342 million bushels of growers are expected to produce 226 million bushels of white winter wheat, the agency said. Domestic inventories, however, are projected at 758 million bushels, down from the May outlook for 766 million. Exports are expected at 800 million bushels, up from the month prior forecast for 775 million, the agency said.
(Link: SuccessfulFarming)
LA NINA WEATHER 65% LIKELY TO DEVELOP IN JULY-SEPT, SAYS US FORECASTER
There is a 65% chance of the La Nina weather pattern, characterized by cold temperatures in the Pacific Ocean, developing during July-September, a U.S. government forecaster said on Thursday. This shift from the current neutral phase between La Nina and El Nina weather patterns is expected to persist into the northern hemisphere winter of 2024-25, with an 85% chance during November-January, the National Weather Service’s Climate Prediction Center (CPC) said in its monthly forecast. The cycle between El Nino, La Nina, and a neutral phase typically lasts two to seven years and can spawn wildfires, tropical cyclones, floods, and prolonged droughts, impacting farmers worldwide. Geographically concentrated crops are more susceptible to price hikes during poor weather conditions.
(Link: Reuters)
