Actual prognoses of global wheat harvest
Every month the International Grains Council (IGC) and the US Department of
Agriculture (USDA) reveal their prognoses regarding global wheat
USDA in mid November has adjusted their estimate on global wheat production
for the 2007/08 season with 2.8 million tonnes up to 603.3 million tonnes. Wheat
in storage estimate was also adjusted with the same amount to 109.8 million
tonnes. The backgrounds for these optimistic estimates are that Argentina and
China each expect to harvest one million tonne of wheat more than with the
The estimated wheat harvest for Australia has been
lowered with 0.5 million tonnes to 13 million tonnes.
The International Grains Council in its monthly estimate end
October has calculated that wheat stocks will be somewhat higher than in
September. IGC adjusted its projections to 602 million tonnes (2006/07: 590 mt)
due to a higher than expected harvest in Eastern Europe.
But also in
Argentina more wheat is expected to be harvested than previously estimated.
Total volume in the EU-27 is set at 120.8 million tonnes.
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