China est. 9Mln tons higher than the USDA, who knows what...

China est. 9Mln tons higher than the USDA, who knows what tonnage will be harvested - smoke and mirrors.

World production will be lower than last year given that last was the largest on record (Globally), acres will be down this year compared to last however there has been a build up of stocks. so basically net square in stocks to use ratios generally speaking.

Growers also need $$ to spend on inputs and as that may not be the case in many areas short cuts are taken.

I have been watching this stock for a while and will buy, however gut feel for me is just not at the moment, good luck to all holders.

10:51 12Jun09 -CHINA COMPLETED 80 PCT OF WHEAT HARVEST, TOTAL HARVEST ESTIMATED AT MORE THAN 122.5 MLN TONNES - XINHUA QUOTES AGRICULTURE MINISTRY
10:52 12Jun09 -CHINA COMPLETED SUMMER RAPESEED HARVEST, TOTAL HARVEST ESTIMATED AT MORE THAN 13 MLN TONNES - XINHUA QUOTES AGRICULTURE MINISTRY
11:08 12Jun09 -China wheat output seen 8 pct above forecast - Xinhua
BEIJING, June 12 (Reuters) - China will produce more than 122.5 million tonnes of wheat this year, an amount 8 percent above an official forecast, state media reported on Friday, citing Ministry of Agriculture.
China, the world's No.1 wheat producer and consumer, completed 80 percent of its wheat harvest, Xinhua said. An official grain think-tank put the country's total wheat output this year at 113.2 million tonnes, in its latest forecast issued also on Friday.
Xinhua said China has completed harvest of rapeseed and is estimated to produce at a new high of more than 13 million tonnes of the crop this year, in line with forecasts.
(([email protected]; Reuters Messaging: [email protected]; +8610 6627 1211))
((If you have a query or comment on this story, send an email to [email protected])) Keywords: CHINA WHEAT/HARVEST