The International Grains Council has raised its forecast for global wheat production in 2016/17 to 748 million tons up by one million tons from its September forecast of 747 million tones. Global wheat production in 2015/16 was 735.8 million tons. The IGC also forecasted 2016/17 global wheat ending stocks at a record 233 million tons.
Information source: www.skymetweather.com