AgProfessional Magazine

AgProfessional magazine is a monthly magazine that provides editorial and advertising for agronomic and business management solutions specifically to agricultural retailers/distributors, professional farm managers and crop consultants.

View Current Issue/Archives | Subscribe to the Magazine

The latest news and information of specific interest to farm managers, crop consultants, ag retailers and the ag industry professionals serving them is delivered weekly on Monday in this e-newsletter.

View Current Issue | Subscribe Now | View Archives

News specific to inform, educate and assist ag retailers is delivered in this e-newsletter weekly each Thursday. Circulation is limited to only ag retailer/distributor management and employees.

View Current Issue | Subscribe Now | View Archives
Decision Engine Logo
  Search Term:
  Crop:

Quick Search Clear


Market Commentary

Afternoon Comments 05/22


There seemed to be little fresh news concerning wheat Wednesday, although some traders may have responded to a private forecast of 2013/14 global production below the recent USDA prediction. Otherwise, the golden grain markets almost surely benefited from concurrent corn and soy gains. Beneficial weather may have weighed upon Minneapolis prices. July CBOT wheat futures advanced 8.0 cents to $6.885/bushel at its Wednesday settlement, and July KCBT wheat added 6.7.5 to $7.4325, whereas July MGE futures declined 4.25 cents to $8.0775.
Market Info

World wheat production revised up this month

USDA  |   March 12, 2013
decrease font size resize text increase font size

Global wheat production for 2012/13 is projected up 1.9 million tons this month to 655.5 million. The increase is due to upward revisions for India, EU-27, and Nepal.

The Government of India, where the wheat harvest was completed in April-May 2012, issued a new estimate for wheat output, which pushes that coountry’s record-high crop further up 1.0 million tons to 94.9 million.

The EU-27 wheat production estimate is up 0.5 million tons to 132.3 million, reflecting the latest Lithuanian Government assessment. The data series for wheat production in Nepal has been revised starti ng in 2007, and for 2012/13 output is projected 0.3 million tons higher at 1.7 million. Slight (less-than-0.1-million-ton) 2012/13 production changes are made for Russia and Peru based on official local reports.

Wheat production numbers are also slightly revised for Georgia (2010/11 and 2011/12 marketing years) and for Kyrgyzstan (years 2007/08 through 2009/10 marketing years), based on government statistical data.

Source: Wheat Outlook


Comments (0) Leave a comment 

Name
e-Mail (required)
Location

Comment:

characters left

Feedback Form
Feedback Form