September 28, 2011

 

World wheat sowing for 2012 expected to hit record

 

 

World wheat sowings for 2012-13 may reach its highest in a decade, according to analysts.

 

Global wheat sowings for 2012 harvests could increase nearly to 225 million hectares, a rise of 1.5%, or nearly four million hectares, as growers cash in on elevated prices, the International Grains Council said.

 

However, Morgan Stanley pegged the wheat area showing a small decline, of 500,000 acres to 222.3 million acres, on a harvested basis.

 

The bank was more downbeat too on corn sowings in the US, the top producer of the grain, than analysts at Informa Economics, who forecast a jump in area to 94.3 million acres, the largest since World War II.

 

Morgan Stanley's estimate was two million acres smaller. Even so, it came in above the 91.5 million acres pencilled in by the USDA in long-term forecasts stretching to 2020.

 

The IGC said its wheat sowings estimate incorporated a 6% rebound, equivalent to roughly three million acres, in US wheat sowings from 2011-12, when spring plantings were depressed by unusually wet weather.