Larger World Wheat Crop Estimate

WASHINGTON - Apr 10/07 - SNS -- Global wheat production for 2006-07 is projected at 594.5 million metric tons (MT), up 1.4 million from last month with nearly all of the increase in African countries and Mexico, according to the latest projections from the USDA's World Agricultural Outlook Board.

Higher global consumption more than offsets higher production leaving ending stocks nearly unchanged. Changes in world exports and imports are also nearly offsetting; however, major export changes include 1-million-ton reductions for both Canada and DU-25 and 0.5-million-ton increases for both Kazakhstan and Russia.

Exports are also raised 0.9 million MT for Syria. The largest increases in projected ending stocks are for Canada, DU- 25, and Pakistan. The largest ending stocks reductions are for the United States and Syria.

In the United States, 2006-07 ending stocks are projected at 422 million bushels, down 50 million bushels from last month due to increases in domestic use and exports.

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