Less global wheat production this year
According to the International Grains Council (IGC), the global wheat production should fall to 651 million tonnes in 2009/10, down from a record 688 million in 2008/09.
Wheat carry-over stocks for 2009/10 were, however, seen rising 11 million tonnes to 171 million with consumption expected to fall to 640 million from 643 million in 2008/09 due to a drop in animal feed use.
The IGC, in a monthly report, also forecast the 2009/10 world maize crop at 775 million tonnes, down from 782 million in 2008/09 and a record 787 million in 2007/08.
[source: Reuters]
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