U.S. Ministry of Agriculture raised its forecast regarding Black Sea Wheat
2012-11-12 13:34:20
According to the official information released by U.S. Ministry of Agriculture wheat exports from the Black Sea region will be 3 M tons higher than the forecast made in October. Report also stated that global wheat production will be 1.6 M tons lower than the data forecasted in the previous month. Production in Australia will be 2 M tons lower than the number stated previously due to draught in October.
AgroInvest comment: Weather conditions will play major factor in wheat production volume this season, as well as the next one. In case draughts continue wheat prices are likely to grow.
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