The prospective gain was attributed to higher prices and a return to normal abandonment rates.
“Assuming average yields, production is forecast to rise to 670 million tonnes (from 647 million tonnes in 2010-11),” the IGC said. “The outlook for northern hemisphere grains crops generally appears favorable at this early stage, although much will depend on the extent to which growers expand plantings of spring crops, especially maize and barley.”
Revising its supply and demand figures for the current crop year, the IGC raised its projection for the wheat carryover to 185 million tonnes, up 5 million tonnes from its December forecast but down from 198 million in 2009-10.
