Business Daily from THE HINDU group of publications
Tuesday, Aug 15, 2006
Business Daily from THE HINDU group of publications Tuesday, Aug 15, 2006 |
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Agri-Biz & Commodities
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Wheat Global wheat output put at 598 mt G. Chandrashekhar
Washington , Aug. 14 Global wheat output for 2006-07 is forecast at 598 million tonnes, some 20 mt lower than the previous year. While consumption (615.3 mt) is rated 9 mt lower, ending stocks are also expected to be sharply down to 128.4 mt. Hot and dry weather reduced production for major exporters EU-25, Canada and Argentina, while favourable growing weather raised production for Russia and Ukraine, the US Department of Agriculture said in its world agricultural supply demand estimate. Consumption is expected to be lower for EU-25, Russia and Ukraine as higher wheat prices shift feeding towards barley, the agency said.
Coarse grains
In the case of coarse grains, world output forecast at 969.9 mt is down a little less than 4 mt from the previous year. Production will trail consumption during the year as the latter is projected at 1,010 mt (984.2 mt). Global grain ending stocks are expected to be down slightly. For the US, a bigger than expected corn (maize) yield (second largest) estimate has been presented. This has surprised many observers as hot and dry weather was expected to hurt yields.
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