Canadian Cattlemen: Weather to favour late Black Sea crops
Mild temperatures and rain early next week are likely to partially restore grain yields in part of the Black Sea region, forecasters said on Friday, raising hopes for stronger crops and exports from Russia, Ukraine and Kazakhstan.
Wheat production from the three Black Sea-region producing countries, which normally supply a quarter of world wheat export volumes, is expected to drop 30 per cent this year to 70 million tonnes because of a drought, the latest Reuters poll found.
According to Canadian Cattlemen report, weak harvest prospects from the region have contributed to drive up global wheat prices by 38 per cent this year and have fanned fears of a global food price scare.
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