IGC forecasts further dip in wheat production but output could rebound

摘要

The International Grains Council (IGC) has lowered its outlook for global wheat production in the 2012/13 season by one million tonnes, leaving year ending stocks at 173 million tonnes or 23mt less than in the 2011/12 marketing year. Total global wheat output is now pegged at 654mt, down from 655mt in the IGC's October report and compared with 695mt in 2011/12. The figure is around the same level as 2010/11, when leading producer Russia suffered from a catastrophic drought that caused it to temporarily shelve exports of the grain.