The Food and Agricultural Organization has cut its estimate for global wheat production for 2017-18 to 739.9 million tonne from 743.2 million tonne projected earlier. The decline in output is primarily on account of lower production in Ukraine and European Union due to dry weather conditions prevailing there. The estimate for overall supply has been cut to 987.0 million tonne from 990.6 million tonne. The estimate for global wheat stocks has been lowered to 255.8 million tonne, down from record high of 257.4 million tonne projected earlier. The FAO has slightly raised its estimate for global wheat trade in 2017-18 to 171.8 million tonne from 171.0 million tonne forecast earlier. The agency has forecast global coarse grain production in 2017-18 to be slightly higher at 1.35 billion tonne.