The U.S. Department of Agriculture, in its Dec. 10 World Agricultural Supply and Demand Estimates, projected 2013-14 global ending stocks of wheat at 182.78 million tonnes, up 2.4% from the November projection of 178.48 million tonnes and up about 4% from 175.83 million tonnes estimated for 2012-13.
World wheat production for 2013-14 was projected at 711.42 million tonnes, up 5.04 million tonnes from November and up 55.25 million tonnes, or about 8%, from 656.17 million tonnes in 2012-13. Global wheat consumption was projected at 704.47 million tonnes, up 980,000 tonnes from November and up 25.19 million tonnes, or 4%, from 679.28 million tonnes in 2012-13. World wheat exports were projected at 156.92 million tonnes, up 3.2 million tonnes from November and up 18.95 million tonnes, or 14%, from 137.97 million tonnes in 2012-13.
World corn ending stocks in 2013-14 were projected at 162.46 million tonnes, down 1.87 million tonnes, or 1%, from 164.33 million tonnes in November and up 29.47 million tonnes, or 22%, from the 134.90 million tonnes in 2012-13.
World soybean ending stocks for 2013-14 were projected at 70.62 million tonnes, up 390,000 tonnes from November and up 10.44 million tonnes, or 17%, from 60.18 million tonnes in 2012-13.
Soybean production in 2013-14 was projected at a record 88 million tonnes in Brazil, unchanged from November and up 6 million tonnes from 2012-13.
Global rice carryover was projected at 104.27 million tonnes in 2013-14, down 2.25 million tonnes from November and down 2% from 106.55 million tonnes in 2012-13.
