United States Department of Agriculture expects global wheat consumption to remain at record high levels in 2018-19 due to increased human consumption. Human wheat consumption is expected to reach a record high 602 million metric tons, 4 percent above the 5-year average. Over the past ten years, global human wheat consumption has increased 90 million metric tons, while feed wheat usage has increased 16 million metric tons.

However, the global supply of milling wheat is expected to fall this year due to challenging growing and harvesting conditions that hurt both quality and yields in many of the major wheat exporting countries. USDA expects global wheat production to fall to the lowest level in 5 years at 734 million metric tons, down 4 percent from the record high of 763 million metric tons in 2017-18. If realized, it would be 1 percent below the 5-year average and the first-time global wheat consumption has exceed global wheat production since 2012-13.

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