Analysts at the U.S. Department of agriculture (USDA) in its June report raised the estimate for world wheat production in season 2016/17 with 726,99 to 730,83 million tons, second only to the result of the season-2015/16 (734,24 million tons), being thus the second largest grain harvest in history.

In particular, the upward adjustment has affected Russia for which the forecast of the gross grain harvest is announced at a record high at 64 million tons. In the countries of the European Union, wheat production will be the second - largest-to 157.5 million tons.

The indicator was also increased for the United States - to 56,53 million tons. Thus, for Brazil, the forecast of the gross grain harvest has been downgraded to 5.3 million tons. The forecast of ending stocks of wheat in the world in season 2016/17 has been raised to a record million tons, 257.84 were voiced against last month 257,34 million tons, which greatly exceeds the figure of the previous season (243,01 million tons)