Drop in world wheat crop projected

Agritel said its first estimates for the 2009 world wheat harvest were based
on other analysts’ forecasts that sowings would drop up to 5 percent in
2009/2010 to 214 million hectares after the recent slump in prices.”This year’s
record crop cannot be reached and the drop in area should lead to a loss of at
least 40 million tonnes,” the analyst wrote in a report.

It said world
wheat demand for food was expected to rise to 455 million tonnes, pointing to a
linear increase in demand for human consumption in the past, regardless of
price. Demand for feed, which is more dependent on prices and output, could
range between 100 and 114 million tonnes against nearly 120 million in
2008/2009.

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