. Agri-news. Agriculture. GO GO GO GO GO 00 GO October 10,1994 Grain and good news together again Traditional wheat and barley producers have had little to no good news in recent years, but there is some upbeat market news this fall says an Alberta Agriculture market analyst. "Wheat prices have been strong and the news for barley producers is much more upbeat than the situation of even a couple of months ago," says Al Dooley of the market analysis and statistics branch. "The world wheat supply and demand situation continues to indicate the 1994-95 crop year should be a relativel
. Agri-news. Agriculture. GO GO GO GO GO 00 GO October 10,1994 Grain and good news together again Traditional wheat and barley producers have had little to no good news in recent years, but there is some upbeat market news this fall says an Alberta Agriculture market analyst. "Wheat prices have been strong and the news for barley producers is much more upbeat than the situation of even a couple of months ago," says Al Dooley of the market analysis and statistics branch. "The world wheat supply and demand situation continues to indicate the 1994-95 crop year should be a relatively good one for Canadian farmers," he adds. In a nutshell, production estimates in major wheat growing countries have been lowered, and import estimates have jumped. The United States Department of Agriculture (USDA) lowered its global wheat production estimate in September by million tonnes. The 535 million tonne estimate is close to 25 million tonnes lower than the 1993-94 world wheat crop. A troubled Australian wheat crop is part of the good news for Canadian farmers notes Dooley. "The current forecast by the Australian Bureau of Agricultural and Resource Economics is for a 12-year production ; September's International Wheat Council (IWC) crop report also added to a positive wheat picture. The IWC reported a sharp reduction in global wheat ending stocks compared to their August estimate. Their estimated 107 million tonne 1994-95 ending stocks is the lowest level since 1980. Wheat prices have been strong. December wheat futures on commodity exchanges climbed to life of contract highs. In Winnipeg, feed wheat futures made sharp gains, reflecting the much improved quality of the 1994 crop as well as general tightening of global wheat supplies. 'Tighter feed wheat supplies in Canada has also boosted western barley futures," adds Dooley. "Futures strength can also be attributed to concerns about the Australian barley crop and an optimistic ou
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