According to the Food and Agricultural Organization of the United Nations (FAO), the 2023 global wheat harvest will be about 786 million tons, the second largest output on record and only 1.3% below the 2022 level.
At the same time, the FAO indicated that due to the war, Ukraine’s wheat harvest will be much lower than average. As a result of the war’s economic consequences, including low selling prices, many farms refused to sow wheat, noted UN analysts.
Nevertheless, there is a moderate increase in wheat production in the EU compared to the previous year due to increased planting and generally good conditions.
In the US, recent rains have provided some relief, and winter crops have been planted, so production is forecast to increase there.