World wheat ending stocks projected higher for 2013/14

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World wheat ending stocks for 2013/14 are projected to reach 176.3 million tons, up 3.3 million this month. While earlier projections indicated a small decline in world wheat stocks, global wheat stocks are now expected to increase during 2013/14.

Increased production prospects boost stocks for Canada, up 1.4 million tons to 6.6 million; Ukraine, up 0.5 million ton to 2.8 million; and by smaller amounts for Turkmenistan, Serbia, Morocco, and Tajikistan.

Additional wheat supplies in the European Union are expected to be almost fully exported, with a slight increase in stocks of 0.1 million tons to 11.2 million. Stocks are projected higher in Algeria and Uzbekistan because of higher carry-in in both countries and lower projected exports in Uzbekistan.

Stocks are up 0.5 million tons in Egypt, reflecting higher projected imports. Australia’s ending stocks are projected up 0.5 million tons this month to 3.8 million due to lower feeding.

Ending wheat stocks are projected down 0.5 million tons this month for Iran, because of lower production that is not fully offset by higher imports; in Pakistan and Kenya, down 0.4 and 0.3 million tons, respectively, on lower carry-in. Smaller changes for ending stocks are made for a number of countries.

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