LONDON - The 2021 global wheat carryover was forecast at 288 million tonnes by the International Grains Council in data issued July 23.

The forecast is down 2 million tonnes from June but is still 12 million tonnes, or 4%, larger than the 2020 carryover, estimated at 276 million tonnes. The carryover was smaller still in 2019 — 261 million tonnes. At 288 million tonnes, the carryover would be a record high.

World wheat production in 2020-21 was forecast at 762 million tonnes, down 6 million tonnes from June and on par with production in 2019-20. Production forecasts were lowered from June for the United States, the European Union and Russia.