US grain production tipped to rise
Friday, 18 May 2012 | 16:30
US grain production is expected to soar this season, knocking down prices and boosting US wheat exports.
A recovery in US durum and other spring wheat has raised the US wheat forecast by 12 per cent, which, with a huge corn crop, has led to a 16 per cent projected drop in the all-wheat season average price.
USDA World Ag Outlook board chairman Gerald Bange says that will make US wheat more competitive.
"We do expect to see exports be a little bit stronger."
They're forecast to rise 12 per cent or 3.4 million tons, also helped by earlier US planting, harvests, and bigger grain yields.
There are no comments available.