The International Grains Council (IGC) said this week it estimated world wheat harvested areas to rise 3.5% in 2007, giving a crop of 621 million tonnes, a rise of 32 million tonnes on 2006.
It said the biggest increases were expected in the European Union, Russia,
the United States, India and Australia, whereas they may be reductions in Canada
The IGC also raised its
estimate of the 2006 wheat crop to 589 million tonnes from a previous forecast
in November of 587 million tonnes. It also raised its ending stocks forecast by
2 million tonnes, putting them at 116 million.
International Grain Council