date:Jul 31, 2012
In May and then this month, the International Grains Council, cut its production forecasts for wheat by five million tonnes - down to 665 million tonnes.
This is more than 30 million tonnes less than the estimates for the 2011/2012 harvest or a four per cent drop.
The forecast for production is a drop to 3.02 tonnes per hectare compared to 3.25 tonnes per hectare in 2011/2012.
Much of the drop in wheat production is down to the forecast poor harvest in the former Soviet Union countries - in p