October 2, 2013
World's 2014 wheat carry over supplies forecast increases
The International Grains Council (IGC) has raised its world wheat ending stocks in 2014 to 180 million tonnes, up four million tonnes from its forecast at the end of August.
The projection would be up five million tonnes, or 2.8%, from 175 million tonnes at the end of 2012-13. The IGC world wheat crop forecast for the current crop year was 693 million tonnes, up two million tonnes from August and up 6% from 655 million tonnes in 2012-13.
The IGC said prospects for adequate supplies in 2013-14 have weighed on prices in recent weeks, despite the emergence of some wheat quality concerns. The higher ending stocks figure from last month was attributed to raise forecasts in major exporters and China.
