October 27, 2006


IGC trims world 2006/07 wheat output to 585.2 million tonnes



The International Grains Council (IGC) lowers its forecasts of 2006/07 world wheat output to 585.2 million tonnes, a drop of 2.4 million tonnes from last month's forecast and 33.1 million tonnes from last year's estimated harvest.


The agency also slashed its 2006/07 world corn output forecast to 690.3 million tonnes, down 7.7 million tonnes from the previous month's forecast and 2.6 million tonnes from the 2005/06 crop.


IGC now sees total 2006/07 world coarse grain production at 1.557 billion tonnes, a drop of 14.8 million tonnes from the September forecast and 41.7 million tonnes below last season's estimated crop.