High-yield wheat will lead to the global supply glut
2016-07-12
SHIJIAZHUANG,July 12, 2016—Although there is one month from Canada
wheat harvest,the Canadian have worried about how to stock the high-yield
wheat. Because of the good weather this year, the wheat yield expected to reach
the record in the history.
Bruce who is the Cannadian grains bag company sales manager said, the high-yield wheat will promote the stock industy and increase the grains bags’ sales.Canada is the main export country of wheat, the high-yield wheat will lead to the global supply glut. The USDA has anticipated the ending inventory of 2016/2017 will be the new record in history. Meanwhile,the high-yiled wheat also effected the price,the whaet future price of CBOT has falled 25% in the past 12 months. The Candian grains company Gap SA Grains & Produits expected the yield of Candian wheat is 31 million tons this year, that increased 12% than last year.
Not only the large supply of
Canadian wheat, the American wheat yield is high. The Bloomberg has analysied the 26 analysts’
research said American farmers will harvest 2.164 billion bushels wheat that is
the new record in past four years.
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