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Global wheat supplies for 2015/16 are raised 2.1 million tons as a 2.6-million-ton increase in production is partly offset by a 0.6-million-ton reduction in beginning stocks.

Production is raised 1.5 million tons for Russia and 1.0 million tons for Ukraine on improved spring rains following last autumn’s drought.

The EU crop is raised 0.4 million tons on good growing conditions in United Kingdom and France. Partially offsetting is a 0.5-million-ton reduction in Argentina, and 0.3-million-ton reductions each for Algeria and Tunisia.

Beginning stocks are reduced 0.7 million tons each for Iran, Russia, and Syria on trade changes for the 2014/15 crop year. The largest beginning stocks increase is 0.5 million tons for Argentina on lower 2014/15 exports. Beginning stocks for 2015/16 are raised 0.2 million tons each for Bangladesh, EU, Morocco, Philippines, and Thailand.

Global wheat trade and consumption for 2015/16 are raised with larger foreign supplies. Imports are raised 0.5 million tons for EU on large supplies in Ukraine, and 0.3 million tons for Algeria on a smaller crop.

Imports are raised 0.2 million tons each for Egypt, Tunisia, Thailand, and Yemen. World wheat exports are raised 1.5 million tons with Russia and Ukraine each raised 1.0 million tons on larger crops. Partially offsetting is a 0.5-million-ton reduction for Argentina.

Foreign consumption is raised 2.6 million tons with almost all of it on higher feeding. Feeding is raised 1.0 million tons in EU, 0.5 million tons in Russia, and 0.4 million tons in Thailand. At 202.4 million tons, global stocks are down 0.9 million tons from last month but still the largest since 2009/10.

Global oilseed

Global oilseed production for 2015/16 is projected at 531.9 million tons, up 0.7 million from last month. Soybean production for Russia is raised on higher area projections based on reported planting progress to date.

Rapeseed production for EU is raised 0.5 million tons to 22.1 million on improved yield prospects. Other changes include increased soybean production for EU and reduced rapeseed production for Ukraine. Argentina soybean production for 2014/15 is raised 1 million tons to 59.5 million mainly on increased harvested area.

Global soybean supply and use changes include increased crush and lower stocks for both 2014/15 and 2015/16. Brazil’s soybean crush, meal production, and domestic disappearance for 2014/15 are raised based on recently released official data. With the lower stocks in Brazil only partly offset by higher stocks in Argentina, global soybean stocks for 2015/16 are projected at 93.2 million tons, down 3.0 million from last month.

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