last release: 8 November 2024
Supply & Demand
2023/24 | 2024/25 | ||
|---|---|---|---|
estimate | 4 Oct | 8 Nov | |
Production | 788.9 | 792.9 | 791.7 |
Supply | 1111.8 | 1108.3 | 1109.4 |
Utilization | 796.7 | 793.7 | 796.6 |
Trade | 208.6 | 198.4 | 198.3 |
Ending Stocks | 317.7 | 316.2 | 313.7 |
in million tonnes | |||
- Wheat production in 2024 estimate trimmed but still above last year’s level, supported by bigger harvests in several countries, including Australia, China, Kazakhstan, and the US.
- Utilization in 2024/25 now on par with the 2023/24 level following this month’s upward revision stemming from higher feed use, especially in Asia.
- Trade in 2024/25 (July/June) unchanged m/m and still set to decline from 2023/24 largely due to reduced imports by China and the EU, and smaller exports from the EU, Russian Federation, and Ukraine.
- Stocks (ending in 2025) lowered further this month and expected to decline below opening levels, with most of the drawdown concentrated in the EU and Russian Federation.