Jump in Wheat Production for 2017-2018

02.11.2017

The price of wheat on the international market is expected to drop due to the strong crops this year. Most of Europe had a lot of rain, which in term created one of the largest wheat seasons in recent years. The expected quantity of worldwide wheat production for 2017-2018 is 748,5 million tons. This is just 5.6 million tons less than the record of the previous year and 12 tons more than the next best season.

Wheat production

The International Grains Council is crediting the increase to the rainy season in Europe, especially around the Black Sea region. The most notable jumps in production happened in the European Union and Ukraine. Argentina and Australia, however, are expected to see a decrease.

The 2017-2018 season may prove good for buying wheat on a large scale, as the prices will be reduced, even if we take into account the seasonal decrease of buying wheat during the winter.


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