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Global wheat consumption is raised 6.9 million tons due mainly to increased prospects for feed wheat. The biggest increase is for EU, which is raised 2.5 million tons. Excessive harvest-time rain in several European production regions has increased the quantity of feed-quality wheat. Russia feed wheat is raised 1.0 million tons, and Ukraine and Belarus are each raised 0.5 million tons due to increased production in those countries. Smaller increases are made for Philippines, Moldova, and Israel.

Global wheat trade for 2014/15 is nearly unchanged with increases in Russia and the United States offset by reductions in EU and several other countries. The changes reflect larger crops in Russia and the United States as well as quality problems in EU.

India exports are lowered 0.5 million tons because of competition, especially from lower quality wheat in Ukraine and southeastern EU. China and Russia imports are lowered 1.0 million tons and 0.5 million tons, respectively, because of increased production. Egypt imports are lowered 0.5 million tons due to changes in its bread subsidy program that are expected to reduce waste. Iran imports are raised 0.5 million tons reflecting government announced purchases. With supplies rising faster than use, global ending stocks are raised 3.4 million tons and remain at a 3-year high.

Global oilseed production for 2014/15 is projected at 521.8 million tons, slightly below last month. Gains for rapeseed and cottonseed are more than offset by reductions for soybeans, sunflower seed, and peanuts. Higher soybean production for the United States is offset by a reduction for India where the delayed monsoon results in lower planted area. Rapeseed production is raised for China, EU, and Ukraine. These gains are partly offset by a smaller crop projected for Canada with lower area resulting from flooding in parts of Saskatchewan and Manitoba. Other changes include lower sunflower seed production for Russia, reduced peanut production for China, and increased cottonseed production for India

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