As per USDA (U.S. Department of Agriculture), wheat production is expected to record high in European Union, Russia, Ukraine, and America. While importing wheat from Turkey, Brazil and Bangladesh are also expecting to increase. Wheat’s export from India and Ukraine also expected to rise.
USDA decided the average price of wheat at $ 6.50 per bushel for 2021-22. While which is $5.05 per bushel in season 2020-21. As per USDA, India’s wheat export in the year 2020-21 is expected 29,00,000 ton.
USDA expecting 794.4 million tons of global wheat production in the year 2021-22, and this estimation was 788.9 million tons last month. While for the year 2020-21, this estimation is 775.8 million tons.
Following is the USDA assumption of wheat production for the year 2020-21 and 2021-22.
|Country||The year 2020-21 (million ton)||The year 2021-22 (million ton)|