US raises world wheat forecast – HGCA
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THE US Department of Agriculture raised its world wheat production estimate from its January report by 0.7m tonnes to 579.48m tonnes.
With both higher trade and consumption also forecast, ending stocks were put lower at 108.89m (126m in 1999/00). Coarse grain ending stocks were put higher from the January estimates to 142.27m tonnes.
Both Kansas and Chicago wheat saw losses in all positions, with March 2001 wheat over $2 down to $114.63/t and $97.82/t respectively.
- Brazil red wheat ban back on
BRAZIL re-imposed its ban on US Soft Red Winter and Hard Red Spring wheat over concerns with wheat nematodes, organisms that hinder plant growth.
Brazil bought 25,000 tonnes of US Soft Red Winter last week for March. Its four-year ban previously was in place over concerns with TCK smut, a fungus common in the US Pacific Northwest crop.
In other news, the Argentinean wheat harvest is complete and the Agriculture Department is forecasting a crop of 16m tonnes.
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Taken from HGCA weekly MI Bulletin To contact the HGCA phone 020 7520 3972 Click here to visit the Home-Grown Cereals Authority |
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