April 28, 2006
IGC ups world 2005/06 wheat output forecast to 619.3 million tonnes
The International Grains Council (IGC) now estimates 2005/06 world wheat output at 619.3 million tonnes, up from the previous month's estimate of 616.5 million tonnes.
This is still down from 2004/05 global wheat output of 628.4 million tonnes.
IGC tables showed the largest change in Egypt's wheat production, which is now forecast at 8.1 million tonnes, up from the March estimate of 6.6 million and the 2004/05 crop of 7.2 million tonnes.
Saudi Arabia's wheat production forecast for 2005/06 was also raised to 2.2 million tonnes, up from 1.3 million tonnes last month and just slightly above the 2004/05 crop of 2.1 million tonnes.
The IGC cut its 2005/06 world corn output estimate to 682.3 million tonnes. This is down from the March forecast of 684.0 million tonnes but up from the previous season's crop of 710.9 million tonnes.
IGC's trimmed its estimate for 2005/06 South American corn output by 1.4 million tonnes to 63.0 million tonnes. Reductions were made to output forecasts for both Argentina and Brazil.
Global coarse grain 2005/06 was pegged at 967.3 million tonnes, nearly unchanged from the March estimate of 967.4 million and down from the previous season's crop of 1.016 billion tonnes.