Commodity Online
WASHINGTON:
International Grains Council said that the world’s grain output for
2009-10 is expected to fall due to lower production in US and the
normal production tactics after the a bumper crops in 2008.
As
per the estimation, the grain production is expected to touch at 1.721
billion metric tonnes, 0.3 percent lower than the 1.727 billion
forecast in April by the IGC and is 3.4% lower than its estimated
2008-09 figure of 1.782 billion tonness.
“In the U.S.
continued planting delays due to wet weather are likely to have a
significant impact on yields and production may fall short of last
year’s. Hot and dry conditions in south-eastern Europe are affecting
E.U. crop prospects,” the council said.
World grain carry-over stocks in 2009-10 are expected to be 328 million tons,
from 343 million tons in 2008-09.
Meanwhile,
the council raised its 2009-10 wheat output estimate by 0.2% from
April’s to 652 million tons and lowered its 2009-10 corn output
estimate to 771 million tons.
