US Department of Agriculture has pegged global wheat output in 2018-19 at 747.8 MMT, down 10.6 MMT from the record 758.4 MMT harvested the previous year.Most of the decline stems from a 13 MMT reduction in Russia’s wheat output to 72.0 MMT. Wheat production in India is also likely to decline to 95 MMT in 2018-19 from a record 98.5 mln tn in the previous year. However, production estimate for the US has been raised by 2.2 MMT to 49.57 MMT. Global wheat consumption in 2018-19 is projected at a record 753.9 MMT, up 10.1 MMT from previous year. Imports are seen at a fresh high for the sixth consecutive year. Global wheat imports in 2018-19 are seen rising by 3.5 MMT to 184.9 MMT.