Ottawa, Canada
February 4, 2008
Source:
Agriculture and
Agri-Food Canada (AAFC)
Production of grains, oilseeds,
pulses and special crops in Canada is forecast to increase to 70
million
tonnes (Mt) in 2008, from 64 Mt in 2007, due to higher area and
yields. However, total supply is forecast to
increase less dramatically due to lower carry-in stocks. Exports
are forecast to increase by 7% and food and
industrial use is also expected to increase due to the strong
demand for biofuel. Carry-out stocks are forecast
to increase slightly. Prices for grains, oilseeds, pulses and
special crops are expected to remain historically
high but prices in Canada will continue to be pressured lightly
by the appreciation of the Canadian dollar.
World wheat and durum prices are expected to decrease from the
highs of 2007-2008 due to a major increase
in wheat and durum production in the major exporting countries.
World coarse grain prices are expected to
increase slightly on support from lower corn production in the
United States (US) and the continued strength
of the biofuel sector. World oilseed prices are expected to
decrease on pressure from increased production in
the US and South America. The market outlook is very tentative
due to uncertainty regarding global supply
and demand conditions which, in turn, are largely related to
weather or policy changes in any of the major
importing or exporting countries.
Full report:
http://www.seedquest.com/News/releases/2008/pdf/21637.pdf |
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