Frontrunner - 22nd October 2021

China is the largest wheat producing country and the United States Department of Agriculture (USDA) estimates the country’s total production this season will reach 136.9 million tonnes. However, Chinese government officials said this week that persistent heavy rain impacting the main wheat producing areas across the country has left planting at only 26% complete so far. This is 27 points below the normal pace. Nevertheless, the State Council of the People’s Republic of China said authorities would work to ensure a bumper harvest next summer. Annual wheat consumption this season is expected to be up to 149 million tonnes which highlights the need for successful harvests. Wheat stocks at the end of this season are expected to fall three million tonnes on the year to a total of 141 million tonnes. This equates to just over half the world total, despite ten million tonnes of it being imported. 

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