World Wheat Harvest Seen at Record High on Europe and Black Sea
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The world will reap its biggest wheat crop ever in the coming season as larger harvests in Europe and the Black Sea region lift stockpiles, according to the Agricultural Market Information System.
Production will climb to 702 million metric tons in the 2013-14 season starting July 1 from 659 million tons in 2012-13, Rome-based AMIS, which was set up by Group of 20 countries, wrote in an online report today. That will rebuild inventories and reduce trade as importers in Asia and Europe grow more of the grain at home, the report showed.