anant1a
New member
World to produce more foodgrains in 2008-09
The world is expected to produce more grains in 2008-09. The International Grains Council on Friday forecast global grain output at 1.694 billion metric tonnes in 2008-09, a 32-million-tonne increase from 2007-08’s record high production.
IGC forecasts 2008-09 global corn output at 748 million tons, down 20 million from 2007-08.
“The US accounts for most of the fall because of a switch to soybeans,” said IGC. US corn plantings would decline by about 6% to 35.8 million hectares. Assuming average abandonment and trend yields, IGC projected US 2008-09 corn output at 315 million tonnes, down 5.1% from last season’s record crop.
China’s corn crop would also be smaller, but the European Union was set to harvest 11 million tons more corn in 2008-09. Kansas, Oklahoma and Texas are on track to produce average or below-average hard red winter wheat crops this year as poor weather has delayed development and cut yield potential, agronomists and growers said.
IGC said: “Despite very high prices, the total grain area is unlikely to increase because of strong competition from oilseeds and other crops.”
In the European Union 2008-09 grain production is forecast at 283.9 million metric tons, the EU’s organization of grain traders, the Comite du Commerce des Cereales, or Coceral, said.
This is up 12% from the 2007-08 crop of 254.3 million tons. Coceral forecasts a 5.4% rise in EU grain area to 58.6 million hectares as well as a 5.9% rise in average yield to 4.84 metric tons a hectare.
EU 2008-09 oilseed production is forecast to rise 6.1% on the year to 25 million tons, with Coceral also projecting an increase in both area and yields.
IGC also said global wheat ending stocks will be at 128 million metric tonnes, a rise of 16 million tonnes on the year.
This was the IGC’s first supply/demand forecast for the 2008-09 global wheat campaign.
Most of the recovery in stocks will be in the world’s five major wheat exporters, with their combined carryout up around 10 million tonnes to 36 million.
Meanwhile, Goldman Sachs forecast that US corn acreage will fall 10.2% in 2008 to 84.1 million acres, much lower than the average industry estimate.
The US Department of Agriculture is scheduled to release its 2008 US prospective planting report on March 31.
The world is expected to produce more grains in 2008-09. The International Grains Council on Friday forecast global grain output at 1.694 billion metric tonnes in 2008-09, a 32-million-tonne increase from 2007-08’s record high production.
IGC forecasts 2008-09 global corn output at 748 million tons, down 20 million from 2007-08.
“The US accounts for most of the fall because of a switch to soybeans,” said IGC. US corn plantings would decline by about 6% to 35.8 million hectares. Assuming average abandonment and trend yields, IGC projected US 2008-09 corn output at 315 million tonnes, down 5.1% from last season’s record crop.
China’s corn crop would also be smaller, but the European Union was set to harvest 11 million tons more corn in 2008-09. Kansas, Oklahoma and Texas are on track to produce average or below-average hard red winter wheat crops this year as poor weather has delayed development and cut yield potential, agronomists and growers said.
IGC said: “Despite very high prices, the total grain area is unlikely to increase because of strong competition from oilseeds and other crops.”
In the European Union 2008-09 grain production is forecast at 283.9 million metric tons, the EU’s organization of grain traders, the Comite du Commerce des Cereales, or Coceral, said.
This is up 12% from the 2007-08 crop of 254.3 million tons. Coceral forecasts a 5.4% rise in EU grain area to 58.6 million hectares as well as a 5.9% rise in average yield to 4.84 metric tons a hectare.
EU 2008-09 oilseed production is forecast to rise 6.1% on the year to 25 million tons, with Coceral also projecting an increase in both area and yields.
IGC also said global wheat ending stocks will be at 128 million metric tonnes, a rise of 16 million tonnes on the year.
This was the IGC’s first supply/demand forecast for the 2008-09 global wheat campaign.
Most of the recovery in stocks will be in the world’s five major wheat exporters, with their combined carryout up around 10 million tonnes to 36 million.
Meanwhile, Goldman Sachs forecast that US corn acreage will fall 10.2% in 2008 to 84.1 million acres, much lower than the average industry estimate.
The US Department of Agriculture is scheduled to release its 2008 US prospective planting report on March 31.