602.31 MMT World Wheat Crop Forecast

WASHINGTON - Dec 11/07 - SNS -- Global wheat production for 2007-08 is lowered 1.0 million metric tons (MT) this month to 602.31 million with lower projected output for Argentina, Canada, and EU-27, according to the latest forecasts from the USDA's World Agricultural Outlook Board.

Partly offsetting are small increases for Azerbaijan, Bangladesh, Serbia, and South Africa. Production in Argentina is projected 500,000 MT lower this month as a November freeze reduced crop prospects in the major southern producing areas. Good weather and higher yields in unaffected areas is expected to partly offset losses. Production for Canada is lowered 600,000 MT in line with the latest crop estimates from Statistics Canada. EU-27 production is reduced 0.4 million MT mostly reflecting a reduction for France.

Global imports for 2007-08 are projected 800,000 MT higher with increases of 0.2 million MT each for Bangladesh and Egypt. A number of lesser increases in small import market countries account for the rest of the projected rise in world imports.

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