The International Grains Council has trimmed its forecast for the 2010 global wheat crop by one million tonnes but still saw stocks climbing to a nine-year high in 2010-11 despite record consumption. The IGC put the global wheat crop in 2010 at 658 million tonnes with consumption in 2010-11 seen rising by two per cent to 656 million. Wheat stocks in 2010-11 were seen rising to 199 million tonnes.
CWB Calls For Raised Wheat Initials
The Canadian Wheat Board has put in for increases of $5 to $45 per tonne on initial payments for 2009-10 wheat.
The CWB said it had submitted its recommendation March 29 to the federal government for the increases. The approvals process in Ottawa for adjustment payments typically takes six to eight weeks.
Only one 2009-10 adjustment payment on board grains has been approved so far, for designated barleys; payments of $26.50 per tonne took effect March 18 and were to be issued March 30.
Grain moved to China drought area
China will deliver 1.42 million tonnes of grain to drought-stricken provinces, the State
Administration of Grain said March 25. The most serious drought in a century has been ravaging southwestern provinces for months, leaving 18 million residents and 11.7 million head of livestock with inadequate drinking water supplies and affecting five million hectares of crops. Officials said the affected provinces are China’s major sugar-and rubber-growing areas and the regional drought will not affect national grain output and supply picture.