August 28, 2008

 

Germany to see 22.8 percent rise in 2008 grain crop
  

 

Germany's 2008 crop of all types of grain is likely to rise by 22.8 percent on the year to around 49.9 million tonnes, the German agriculture ministry said on Wednesday ( August 27, 2008).

 

The ministry said in its provisional 2008 harvest forecast the rise was largely due to expanded grain plantings and above average yields.

 

It said the bulk of the wheat harvest was now finished but poor weather meant some work remained to be completed, especially in northern and hilly regions.

 

The figures are concrete proof of market expectations that the crop volume will be considerably larger than expected this year and would provide for exports this year, analysts said.

 

The rise in fed grain harvest was also significant. Planting was greatly expanded to cash in on high prices but now prices seem ready to crash with the large harvest.

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