date:Jul 03, 2012
The I.G.C. has lowered its wheat production forecast for 2012-13 steadily from its initial projection of 680 million tonnes as issued in its February Grain Market Report. The I.G.C. said the outlook for world wheat production this year continued to be affected by unfavorable weather conditions in some key producing countries, including Russia. At the same time, it indicated the U.S. harvest to date was better than expected. Also, recent rain in parts of the European Union helped the crop show im