If current predictions of bumper 2012-2013 production in crucial growing regions prove true, ample stockpiles of wheat will mount even higher. The U.S. Department of Agriculture last month forecast that domestic wheat production in 2012-2013 will rise 8.3% to 2.165 billion bushels, while the European Union predicted a crop of 131.9 million metric tons, a 2.4% increase.
...The USDA projected that domestic wheat supplies will total 957 million bushels at the end of 2012-2013, 13% more than in 2011-2012, while the EU predicted ending stocks will rise 40% to 15 million tons.
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