World wheat carryover estimates up 14 percent for 2010

Global wheat ending stocks in 2010 were forecast at 188 million tonnes, up 14 percent from 165 million tonnes in 2009, according to the International Grains Council (IGC).

This projection was up three million tonnes from IGC figures issued September 24. Carryover was only 118 million tonnes in 2008.

IGC said planting of winter wheat was proceeding well, despite wet weather in North America and dry weather elsewhere.

Some producers, especially in the US, have been prompted by the recent fall in wheat prices to reduce sowings, and global wheat area in 2010 is expected to be smaller than this year, the council said.