World Grain - December 2010 - 59

FEATURE

IGC:
I

n its Nov. 25 report, the International
Grains Council (IGC) forecast 201011 world wheat ending stocks at 180
million tonnes, down 1 million tonnes
from its October projection and down 16
million tonnes, or 8%, from 196 million
tonnes in 2009-10. World wheat ending
stocks were 169 million tonnes in 200809 and 121 million tonnes in 2007-08.
The latter wheat ending inventory was
the smallest since 1981-82.
The IGC projected world wheat
production in 2010-11 at 644 million
tonnes, unchanged from the October
forecast but down 33 million tonnes, or

wheat ending
stocks decline
by Arvin Donley

Council forecasts a drop to 180 million tonnes in
2010-11, an 8% decrease from the prior year
5%, from 677 million tonnes in 200910 and compared with a record outturn
of 686 million tonnes in 2008-09. The
2009-10 crop was projected to be the
third largest ever produced.
"Harvesting gathered pace in the
Southern Hemisphere with better production prospects reported in Brazil and

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Argentina," the IGC said. "Output in the
latter is projected to reach 13 million
tonnes - 5 million tonnes more than
in 2009. Rains continued to delay cutting in eastern Australia; the crop forecast is maintained at 23 million tonnes,
but there are increasing reports of yield
and quality damage in some areas. Output estimates for the United States and
Ukraine are trimmed slightly."
World wheat consumption in 201011 was projected at a record 660 million tonnes, up 2 million tonnes from
the October forecast and up 10 million
tonnes from 2009-10. The increase in
the projection from October was tied
to greater-than-expected use of "attractively priced" imported feed wheat in
Pacific Asia, including South Korea and
the Philippines.
Rising purchases of wheat for feed
raised the IGC's wheat trade forecast for
the current year by 2 million tonnes, to
122 million tonnes.
The IGC's revised forecast still fell
short of last year's global wheat trade at
127 million tonnes and compared with
record trade of 136 million tonnes in
2008-09.
The IGC forecast the 2010-11 world
corn ending stocks at 121 million
tonnes, down 4 million from the October projection and down 31 million, or
20%, from 152 million in 2009-10.
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World Grain - December 2010

Table of Contents for the Digital Edition of World Grain - December 2010

Contents
World Grain - December 2010 - 1
World Grain - December 2010 - 2
World Grain - December 2010 - 3
World Grain - December 2010 - Contents
World Grain - December 2010 - 5
World Grain - December 2010 - 6
World Grain - December 2010 - 7
World Grain - December 2010 - 8
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