image expired

Global wheat imports are lowered 1.3 million tons to 153.4 million. Egypt imports are lowered 0.8 million tons due to the new subsidy program that will change consumption patterns. South Korea imports are lowered 0.4 million tons on reduced feed quality wheat imports; China, Pakistan and Russia imports are each lowered 0.3 million tons. Partly offsetting the reductions are 0.3-million-ton increases for both Mexico and Turkey imports. The largest exporter decrease is 1.0 million tons for Australia on a smaller crop. Kazakhstan and Serbia exports were each lowered 0.2 million tons also due to smaller crops. A 0.3-million-ton increase in Turkey exports was partially offsetting.

Global wheat ending stocks for 2014/15 are raised 0.3 million tons to 192.9 million, mostly on higher stocks for EU. 

Oilseeds

Global oilseed production for 2014/15 is projected at a record 528.9 million tons, up 0.5 million from last month. Higher soybean and rapeseed production are only partly offset by a lower sunflower seed forecast. Global soybean production is projected at a record 312.1 million tons reflecting the increase for the United States. Global rapeseed production is raised to 70.7 million tons on a record EU harvest. Gains for EU are partly offset by a reduction for Australia where dry conditions in the southeast have reduced yield prospects. Global sunflower seed production is reduced 0.4 million tons to 39.8 million on lower forecasts for Russia and Kazakhstan which are partly offset by gains for EU and Serbia. Other changes include reduced cottonseed production for China and Australia.

Global oilseed trade for 2014/15 is projected at 134.6 million tons, up 0.6 million from last month. Increased soybean exports from the United States and Ukraine and increased rapeseed exports from Canada account for most of the change. Global oilseed crush is projected higher mainly on gains for soybeans in the United States, China, Ukraine, and South Korea. Partly offsetting is a reduction in soybean crush for Argentina. Rapeseed crush is raised for EU and China.

Global oilseed ending stocks are projected lower at 103.0 million tons on reduced rapeseed stocks in Canada and Australia.