August 29, 2006

IGC lowers world wheat crop projections

The International Grains Council (IGC) has again lowered its world wheat crop production for 2006-2007 by 3 million tonnes. Production is now expected at 593 millions tonnes.

This would mean that the wheat crop is 25 million tonnes, or 4 percent down from 2005-2006.

The cut reflected a decline in the EU wheat production, where drought and high temperatures have damaged yields. However, the figure is partly offset by a larger crop in China.