Strategie Grains EU 10-11 Wheat Output At 134.2M Tons

European Union 2010-11 soft wheat production is revised up slightly on the month to 134.2 million metric tons, Strategie Grains data showed Thursday.

This is 100,000 tons higher than the company's March forecast and remains 3% higher than the previous year's output.

"Despite some winterkill in central and north Europe, wheat development is judged satisfactory at this stage," the company said.

Global wheat production in 2010-11 is forecast to fall slightly below the previous season's level, Strategie Grains said, without providing figures in an extract. However, it said ending stocks should remain broadly steady.

As a result the outlook for wheat remains heavy although a "fall in production volumes in North Africa and the Black Sea should at least allow the EU to export as much wheat to the world market as it did in 2009-10," the firm said.

EU grain production was revised lower to 291 million tons, as upward revisions in corn and soft wheat weren't enough to offset a sharp drop in barley production.

This is down slightly from 2009-10 grain production of 292.5 million tons, although it remains a bumper crop by historical averages.

Source: CME Group