Friday, August 31 09:53:47
Germany's 2012 crop of all types of grain is likely to rise by 6.7 percent on the year to around 44.7 million tonnes, the agriculture ministry said on Friday, welcoming the forecast as a counter to tight world supply and high prices.
German grain prices are about 25 percent higher than this time in 2011 because of the rise in international prices caused by the drought in the U.S. Midwest, the ministry said. U.S. corn and soybean prices hit record highs this summer as scorching temperatures and a relentless drought ravaged crops in the U.S. Wheat has also surged with the Black Sea drought and poor rains in Australia adding to supply worries.
The ministry also said in its provisional 2012 crop forecast Germany is likely to harvest 22.5 million tonnes of wheat, down 1.5 percent on the year. The wheat harvest forecast compares to 22.8 million tonnes estimated by Germany's leading grain trading house Toepfer International, 21 million tonnes estimated by the German farmers' association and 22.3 million tonnes forecast by the agricultural cooperatives association.
Germany's grain harvest has been completed except for a few very minor areas, the ministry said in its first harvest report. German wheat plants suffered from an exceptionally cold winter which damaged about 12 percent of the planted area of winter wheat, the ministry said. ( C) Reuters