Wheat production in the United States

The National Grain Council (UHT) has revised its wheat production estimate for 2023 from a previous 20.75 million tons to 21.5 million tons amid better-than-expected precipitation.

After a dry winter, precipitation was strong in many regions in the months of March, April and May, the council said in a report.

On July 22, 2022, the UN and Turkey signed an agreement to open a safe maritime humanitarian corridor in the Black Sea. Through the Black Sea Grain Initiative, around 800 ships filled with grain and other food products have left three Ukrainian ports.

An unusually early, record-shattering heat wave in India has reduced wheat yields, raising questions about how the country will balance its domestic needs with ambitions to increase exports and make up for shortfalls due to Russia's war in Ukraine.

Turkey has extended the suspension of 20 percent tariffs on wheat, barley, and corn imports until April 30, 2021, according to a presidential decree published in the Official Gazette on Dec. 17.

In a previous decree on Oct. 30, wheat import tariffs had been suspended until the end of this year.

India has received wheat from an East European country for the first time in a decade, with Ukraine snatching the French wheat markets with shipments to the South Asian nation.

Turkey's wheat production hit a record high of 23 million tons this year after a drought year. Despite a dramatic rise in output, the country has kept importing wheat as the locally produced wheat is of low quality due to unproductive seeds. The productivity level can be increased through certified seeds, according to sector players. 

NOVI SAD - The grains and oilseeds markets are stable thanks to favorable level of stocks of these basic agricultural products, so their prices are expected to be relatively stable this year, said Zarko Galetin, director of the Novi Sad Commodity Exchange.