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IGC June Report

The International Grains Council has kept its estimate for '09/10 global wheat production unchanged from the previous at 652Mt, 35Mt below last season's record crop.

Winter wheat crops is Russia and the EU are reported to be doing well; however, spring wheat in northern US and western Canada is developing slowly due to cool, wet conditions.

Argentine production is expected to fall to 10Mt, as area planted is seen to be the lowest on record at 3Mha. Global consumption is forecast at 644Mt, with ending stocks at 168Mt. Canada, Argentina and Ukraine are all expected to reduce exports in '09/10, whereas Russian exports are forecast to increase by 1.5Mt.

Global maize production is forecast 768Mt, 3Mt less than previous estimate with severe drought in Eastern Europe reducing crop prospects for Hungary and Romania. Global maize consumption in '09/10 is forecast at 788Mt; 11Mt above previous season, and 20Mt above the estimated production in '09/10.

Barley production is forecast to at 142.8Mt, 1.8Mt lower than the previous estimate, and 10.7Mt lower than the previous season. Global barley consumption is forecast 0.9Mt lower than the previous estimate at 145.4; however this is relatively unchanged from the previous season's consumption of 146.2Mt.

26/06/09