A larger estimate of China’s 1997 wheat crop helped push the International Grains Council expectations of world wheat and durum production up four million tonnes to 602.7 million tonnes.
On Jan. 22 the IGC hiked its estimate of China’s 1997 wheat crop to 123 million tonnes, compared to its Nov. 26 estimate of 119 million tonnes.
But the IGC figure was still lower than the 124 million tonnes estimated by the United States Department of Agriculture. The USDA set world production at 608 million tonnes.
The previous world record is 592 million tonnes in 1990.
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Expectation of bigger production was behind the Canadian Wheat Board lowering of the Pool Return Outlook released last week.
The board noted Argentina has been aggressively selling on the export market, with recent prices of $120 – $125 (U.S.) per tonne at port.
Durum PROs were also down from last month. Recent dry weather in North Africa, following earlier rains, has allowed farmers there to seed more acres than last year.
A recent USDA report noted U.S. durum plantings in California and southwestern states are up by 20 percent over last year.
Potential expanded North American seeded area continues to pressure new crop values. Also, Turkey and other durum producers that normally do not export have been active in the marketplace, the wheat board noted.
Feed barley PROs fell again this month due to limited demand and continued supply pressure from non-traditional exporters. Saudi Arabia, the world’s largest feed barley importer, has not tendered since mid-September, the board said.
Designated barley PROs were affected by successful completion of the Australian barley harvest with no significant quality problems. The European Union has stepped up its malt exports, with values declining by as much as $30 (U.S.) per tonne.
