October 14, 2008

Global wheat production forecast to hit 680.2 million tonnes

Global wheat production for the 2008-09 marketing year is now forecast to reach a record high of 680.2 million tonnes due to predicted increases in Canada, Russia, Ukraine and the US, according to USDA's monthly report.

The new forecast for world wheat production is an increase from the 676.28 million tonnes that was predicted last month. Production for Canada is raised 1.9 million tonnes based on the latest official estimates, 1 million tonnes for Russia on higher reported area and yields and 1 million tonnes for Ukraine on higher reported yields.

US farmers are now expected to produce 68.03 million tonnes of wheat, up from last month's prediction of 67.02 million tonnes. The overall prediction for stronger global wheat production comes despite declines now seen in Argentine and Australian wheat production.

Production is lowered by 500,000 tonnes for Australia as government statistics and other reports indicate harvested area losses due to drought and haying, USDA reported.