August 1, 2014

IGC forecasts increased use of EU wheat in feed

The International Grains Council (IGC) forecasts a jump in the use of EU's wheat as feed, as rains damaged the crop during the harvest.

IGC raised forecast for world wheat consumption by 2 million tonnes to 699 million in 2014-15, raising expectations for the use of the crop in feed.

That represents a rise of 14% on-year and reflects the setback to quality from late rains, which are rendering much EU output - particularly in top producer France - fit only for feed.

IGC lifted forecast for global grains production in 2014-15 by 10 million tonnes to 1.959 billion tonnes. Besides the increased wheat harvest, there is also an increase of 6 million tonnes in the estimate for corn.