The new grain season will bring bigger crops in the year 2013/2014. The world food organization FAO attributes the growth in production to a larger acreage of winter wheat in the EU.
The FAO estimates that the winter wheat acreage in the European Union wil grow with 4-5%, despite the difficult sowing conditions in Western Europe because of the rain. "Furthermore, it seems that winter weather didn’t do much harm to the crop in past months."
According to the FAO the winter wheat acreage in Russia and Ukraine remained relatively stable. "Also, the wheat had enough moisture available, except in southern Russia", says the FAO on the site. "China will also harvest a lot of wheat. Increasing the minimum price has encouraged growers to increase the acreage. India also has planted a lot of wheat. For the US, we expect a smaller wheat production due to drought. "
The EU is the largest wheat producer, followed by China, India and the US. Other analyst firms assume a smaller acreage growth in the EU than the FAO doe. Strategy Grains expects growth of 3.1% of the total wheat acreage. The International Grains Council assumes 3.2%.
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