February 23, 2007
IGC sees 2007/08 world wheat output at 624 million tonnes
The International Grain Council (IGC) now forecasts 2007/08 world wheat output at 624 million tonnes, which is up 3 million tonnes from last month's projection.
This marks an increase of 34 million tonnes, or 5.8 percent, on the year.
"Given continued good weather, significantly larger harvests are expected," said IGC. The agency sees the largest increases in Europe, the Commonwealth of Independent States, US, South America, India and Australia.
However IGC points out that China's 2007/08 wheat plantings are down, which indicates a potential drop there of 4 million tonnes from 2006/07.
IGC also warns while weather conditions have generally been favourable for wheat in the northern hemisphere, growth is more advanced than normal and could leave plants "vulnerable to damage from late frosts".