WASHINGTON, D.C., U.S. — The U.S. Department of Agriculture (USDA) in its June 10 World Agricultural Supply and Demand Estimates projected global 2015-16 wheat production at 721.55 million tonnes, up 2.62 million tonnes from the 718.93-million-tonne May projection but down 4.39 million tonnes from a record 726.32 million tonnes in 2014-15.

The USDA projected 2015-16 global ending stocks of wheat at 202.4 million tonnes, down from 203.32 million tonnes projected in May but up from 200.41 million tonnes in 2014-15.

World wheat consumption for 2015-16 was projected at 719.56 million tonnes, up from 716.59 million tonnes in May and 715.89 million tonnes the prior year. Most of the gain in consumption was for feed wheat, the USDA said.

Exports were projected at 158.41 million tonnes in 2015-16, up from 156.95 million tonnes in May but down from 163.85 million tonnes last year.

“Global wheat supplies for 2015-16 are raised 2.1 million tonnes as a 2.6-million-tonne increase in production is partly offset by a 0.6-million-tonne reduction in beginning stocks,” the USDA said. Production was raised 1.5 million tonnes in Russia, 1 million tonnes in Ukraine and 400,000 tonnes in the European Union.

World corn ending stocks in 2015-16 were projected at 195.19 million tonnes, up 3.25 million tonnes from May but down 1.82 million tonnes from 2014-15.

World soybean ending stocks for 2015-16 were projected at 93.22 million tonnes, down 3 million tonnes from May but up 9.52 million tonnes, or 11%, from 83.7 million tonnes in 2014-15.

USDA 2015-16 ending stock projections compared with pre-report average trade expectations near 203 million tonnes for wheat, 192 million tonnes for corn and 96 million tonnes for soybeans.