More Ample Wheat Supply Picture

WASHINGTON - Nov 9/07 - SNS -- Global wheat production for 2007-08 is projected up 2.8 million metric tons (MT) at 603.3 million this month reflecting higher output in Argentina, China, and Ethiopia, which more than offsets reductions in Australia and Brazil, according to the latest forecast from the USDA's World Agricultural Outlook Board.

Production for Argentina is raised 1.0 million MT on higher harvested area and improved yield prospects with a continuation of excellent growing season weather since mid- September. China production is increased 1.0 million MT reflecting recent government reports. Production for Ethiopia is raised 1.0 million MT on higher yields with good growing season weather.

Australia production is cut 0.5 million MT as crop prospects continue to decline with drought persisting in key southeastern growing areas. Recent rains during harvest may also have adversely affected grain quality and yields. Brazil output is lowered 0.2 million MT based on an expected reduction in harvested area.

Subscribers can read the full text of the article by Clicking here