2023 Exporter Wheat Supply & Demand
Assuming trend yields, ARC projects Russian wheat production in 2023 at 86 MMTs vs. USDA’s estimated 92 in 2022. EU wheat production is projected at 138 MMTs vs. 134 in 2022. Combined EU and Russian wheat supplies in 2023 will be down just 3 MMTS year-over-year and at 259 MMTs will be the second largest…