. Agri-news. Agriculture. HC , I, CM. GO GO GO GO GO GOG*: October 21,1996 Wheat watch World wheat production will be up about eight per cent over last year due to increases in many areas of the world: most notably Canada, the European Union, Russia, Argentina, China and Australia. The five main exporters are expected to increase production by 13 per cent over last year, the highest level in over five years. "World stocks are expected to increase by 12 per cent, providing lots of competition for the export ; says Brenda Brindle, market analyst with KenAgra Management. "In
. Agri-news. Agriculture. HC , I, CM. GO GO GO GO GO GOG*: October 21,1996 Wheat watch World wheat production will be up about eight per cent over last year due to increases in many areas of the world: most notably Canada, the European Union, Russia, Argentina, China and Australia. The five main exporters are expected to increase production by 13 per cent over last year, the highest level in over five years. "World stocks are expected to increase by 12 per cent, providing lots of competition for the export ; says Brenda Brindle, market analyst with KenAgra Management. "In Canada, in addition to increased production, Statistics Canada reported carry over of more wheat than the previous year, further adding to supplies. The CWB challenge will be to move a large crop in a year of ample world competition and prospects of lower world ; Movement of export wheat could be slow with congestion in Vancouver into late fall. High quality wheats will remain in demand among world markets, but lower qualities will need to compete with increased wheat and coarse grain supplies. Expect higher carry-outs next summer as the system cannot forward this size of crop. "Wheat prices slipped during September, dropping another $ per tonne on world markets since late August," says Brindle. " futures, Canadian futures, and country buying prices reflected this continued drop in value. Canadian export wheat values are likely to end up at levels below last year, closer to values in 1994; "Producers should watch the Pool Return Outlook (PRO) values at their elevator. Values posted are at the port and need to be adjusted to location. Important for the outlook later in the year is the progress of world winter wheat crops. The trend of wheat futures will provide some guide to the direction of PRO ; Contact: Brenda Brindle (403)468-4442 Weaning May born calves It's that time of the season when weaning spring calves
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