US WHEAT OUTPUT REVISED HIGHER IN WASDE REPORT
The US Department of Agriculture (USDA) revised wheat production for the 2023-24 marketing year in the United States higher to 1.812 billion bushels, 78 million bushels higher than its projection in September, according to the World Agriculture Supply and Demand Estimates (WASDE) released on Oct. 13. US ending stocks and domestic consumption were also revised higher by the USDA, with ending stocks pegged at 670 million bushels (an increase of 18.2 million bushels) and domestic consumption forecast at 1.159 billion bushels, 30 million bushels higher than the September estimate.
The WASDE report showed higher projections for hard red winter wheat (up 16 million bushels to 601 million), hard red spring (up 55 million bushels to 413 million) and soft red winter (up 9 million bushels to 449 million). Durum was forecast to increase by 2 million tonnes to 59 million while white wheat output is expected to total 235 million bushels, down 4 million bushels from the September estimate. Conversely, the USDA revised global wheat production lower to 783.4 million tonnes, down 4 million tonnes from the September estimate. The decline in projected output was due to smaller production in Australia, Kazakhstan and Ethiopia due to drier conditions.
(Link: WorldGrain)
UKRAINE SAYS NEARLY 300,000 TONNES OF GRAIN DESTROYED
Russia’s attacks on Ukraine’s agricultural infrastructure and ships since July have destroyed nearly 300,000 tonnes of grain, Reuters reported, citing the Ukrainian government. Since Russia quit the Black Sea Grain Initiative in July, its military forces have hit six civilian ships and 150 port and grain facilities during 17 attacks, destroying crops headed for export, Deputy Prime Minister Oleksandr Kubrakov said in a statement. The damage on Ukrainian ports reduced the country’s grain export potential by 40%, Kubrakov said.
As of Oct. 3, Ukraine had exported 6.82 million tonnes of grain so far in the 2023-24 July-June season, down 24% from 8.99 million tonnes at the same time a year ago when the Black Sea Grain deal was in effect, according to the Ministry of Agrarian Policy and Food. Ukraine is expected to harvest 79 million tonnes of grain and oilseed in 2023, with 2023-24 exportable surplus totals of about 50 million tonnes. Ukraine is among the world’s largest wheat, corn, barley and sunflower oil exporters, reigniting concerns of a global food shortage, particularly in underdeveloped nations heavily reliant on Black Sea grain.
(Link: WorldGrain)
