The international Grains Council (IGC) recently published an updated forecast report, which estimated world wheat production in 2015-16 MG at 734 million tonnes. First, experts had similar expectations, and in February was lower by 2 million tons.

It should be noted, in the previous season, world wheat crop was fixed at around 729 million tonnes. In the 2013-14 season, this figure amounted to 717 million tonnes and in 2012-13 farmers around the world gathered 657 million tons of wheat. Forecast global consumption of wheat in the 2015-16 MG, according to the latest IGC, has been adjusted downwards by 1 million tons to 719 million tons. In the previous season the figure was 2 million tonnes more modest.

We will remind, in the 2013-14 season, the use of wheat amounted to 699 million tonnes. The volume of world wheat trade, according to a new forecast report IGC, will amount to 154 million tonnes in 2015-16 marketing year. A previous assessment was similar. A year earlier the figure was lower by 1 million tons.

In the 2013-14 season, the trade in wheat has also reached 157 million tons. Carry-over reserves most produced grain in the world, according to the current estimates of analysts IGC, can grow to 15 million tonnes in 2015-16 season to 215 million tons compared to the previous year (200 million tons). In the past reporting period, experts had a more modest assessment, namely by 2 million tons below.