IGC Ups World 08-09 Grain Ouput 16MMT, Wheat Up 7MMT
The International Grains Council last night forecast 2008-09 world grain ouput at 1.77 billion tonnes, up 16MMT from last month, and a staggering increase of 81MMT on a year ago.
World wheat production is now seen at 683MMT, 7MMT more than last month, with world corn output at 773MMT, an increase of 2MMT from a month ago.
"As northern hemisphere harvesting neared completion, many major producers' grain yields exceeded expectations," the IGC said. "The better-than-expected global harvest boosted global output figures despite further deterioration in prospects in Argentina and Australia," they added.
World wheat production is now seen at 683MMT, 7MMT more than last month, with world corn output at 773MMT, an increase of 2MMT from a month ago.
"As northern hemisphere harvesting neared completion, many major producers' grain yields exceeded expectations," the IGC said. "The better-than-expected global harvest boosted global output figures despite further deterioration in prospects in Argentina and Australia," they added.
