IGC wheat estimates continue to slide
By FWi staff
WORLD wheat production is estimated down a further 1 million tonnes at 583m tonnes in a trend that has seen predictions slide for several months.
The main changes are a rise of 1m tonnes for Canada, a reduction of the same tonnage for Austria and several minor revisions for other countries, noted the International Grains Council.
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Expected imports to China, Indonesia and Brazil have been cut, offsetting an increase for Pakistan. World trade is now put 1m tonnes down at 94m tonnes. Exports by the EC and United States are expected to be up on last year, although those from Canada could fall substantially to an expected 6 million tonnes. |
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Cheaper feed wheat could push usage up to 103m tonnes, and world consumption will be 594 million, predicts the IGC.
Stocks are also expected to be lower at, 121m tonnes.