As per the latest monthly release from United States Department of Agriculture (USDA ) on 10th February 2014, the global production of wheat is expected to decrease by 0.77 million tonnes from the last release to reach 711.89 million tonnes. This is mainly due to lower production in Kazakhstan and Russia.
Global production is down slightly, as a smaller crop in Kazakhstan more than outweighs greater production in Brazil and Ukraine. Trade is nearly unchanged. Larger exports from the EU and the United States are expected to offset smaller shipments from Argentina, Kazakhstan, Australia, and India. The season-average farm price is unchanged.
The global consumption of wheat is expected to unchanged at 703.94 million tonnes. The total ending stocks are forecasted lower at 183.73 million tonnes ,down 1.66 million tonnes from the previous month due to lower stocks in EU.