WASDE report: due to unfavorable growing conditions in some eastern countries like Iraq, the USDA cut global wheat production to 776.4 million tons (-2.2 million tons). At the same time, the experts are anticipating an increase in export business and have raised the volume to 206 million tons. In the Middle East in particular, an increased need for imports is expected, so many US traders are hoping for an upturn in export business. US wheat exports are currently below the level of previous years.
