Global wheat feels the heat
HOT weather and a lack of rain has cut global wheat production this season by 1.2 per cent, with wheat giant Russia feeling the heat.
According to the latest US Department of Agriculture Agricultural Supply and Demand Estimates report, published last week, soaring temperatures and below average rainfall last month cut 3.8 million tonnes of production for the season.
While Russia’s estimated production of 74.2 million tonnes is the second largest on record, the drop in production has had an impact on the global grains market.
According to the WASDE report, global wheat production for 2019-20 was forecast at 771.46 million tonnes, down on last month’s figure of 780.83 million tonnes.
Australian wheat production for 20191-20 was forecast at 21 million tonnes, a drop on the 22.50 million tonnes last month.
Australian wheat production in 2017-18 was 20.94 million tonnes, and just 17.3 million tonnes last season.
SNAPSHOT: Russian wheat production has been slashed, according to a recent USDA report, released last week.