In the October World Supply and Demand Estimates report, USDA raised U.S. wheat production by 7 million bushels to 1.88 million. Wheat imports were estimated at 140 million, which is an increase of 5 million bushels, while exports remain unchanged at 1.03 million bushels. Estimated ending stocks are higher at 956 million bushels, but remain 13 percent lower compared to last year. For 2018/19, global wheat supplies decreased based on lower production forecasts for Australia and Russia. Global ending stocks are down 1.1 million at 260 million tons, a 5 percent decrease from last year.
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