Global wheat exports will reach another record
In general, export shipments from major exporting countries (July-April) are already 10 MMT higher (+8%) than at the same time last season.
Ukraine managed to expand its export share in all the main end markets, having pushed aside other suppliers. The only exceptions are the markets of Thailand and Spain.
Concerning the outlook for 2017/18, global wheat exports are forecast to be lower than last year, at 178.55 MMT (down 1.75 MMT), as feed wheat consumption is expected to shrink in favor of corn.
In addition, exportable wheat stocks in key supplying countries are expected to shrink due to drought events observed in Ukraine, the EU, Australia, and USA. ■