Wheat Production to Rebound in 2019/20
Category: Grains
(IEGVu) – In its initial projections for the 2019/20 season, sister title IEG Vantage expects an increase in global wheat area, production and stocks.
The 2019/20 harvested area is forecast to rise after an expected decline in 20118/19. Global use is forecast at 761 million tonnes, with export rebounded from 2018/19 to a near-record level.
“Harvest season is months away for the 2019/20 crop. At this juncture, the take away is that production and stocks are forecast to rebound, year over year. In turn, this is expected to limit price strength into the 2019/20 crop year,” said IEG Vantage.
IEG Vantage also released details of its survey-based acreage forecast for US winter wheat in 2019/20, with the headline figure at 34.1 mln acres. Taking into account its other forecasts, implied US wheat production in 2019/20 would be above the preceding two seasons.
