In their May forecast, IGC analysts lowered their forecast for the world's ending wheat stocks in 2021/22 to 287.9 million tons from 298.1 million tons in the estimate from the previous month and 284.4 million tons a year earlier.
According to a forecast of the Australian company IKON Commodities, the wheat production in Australia will reach 29.5 million tons in 2021/22 compared to 34.8 million tons in 2020/21.
