International Wheat Market Report 08 Nov 2018

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The global wheat supply and demand balance is forecast to tighten in 2018/19, as evidenced by firmer international prices compared to the previous season. This is according to the Food Outlook, the biannual report on global food markets, published by FAO. The forecast for global wheat production in 2018 has been revised downwards in recent months, and is now pegged at 727.9 million tonnes, 4.3% decline from the 2017 record level. The EU, the Russian Federation, China and Australia account for much of the year-on-year contraction. They are also behind the recent lowering in the global production outlook, while prospects improved in North and South America

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