12/03/2015
Latest World Crop Updates
Planting pace, recent and expected profitability and initial soil moisture set 2016/17 US winter wheat production at 41.3 million tons, up 10% from last season. In Canada, yields reported by provincial agencies and surveyed elevator operators, and StatCan's revisions to 2014/15 production raise 2015/16 wheat and rapeseed production to 27.1 and 15.1 million tons. Lower plantings reduce 2016/17 Ukraine wheat production to 24.0 million tons, but favorable weather over the past month maintain a wide range of potential production. In Malaysia, high October output raises 2015 crude palm oil production to 20.4 million tons while El NiƱo impacts and low initial soil moisture in East Malaysia could lower 2016 production by 1 to 2 million tons. Near normal planting conditions, government support policies and lower wheat prices set 2015/16 China wheat production at 129 million tons while in Argentina, favorable soil moisture raises 2015/16 soybean and corn production to 61.1 and 28.7 million tons.