Grain Supply, Stock Forecasts Cut by Council on Drought, Canadian Sowings

(Bloomberg) -- Global stockpiles of grains such as
wheat and corn will be 1.7 percent lower than previously
forecast because of drought in Europe and fewer sowings in
Canada, the International Grains Council said.

Inventories for the year ending June 2008 will 236 million
tons, the lowest in 30 years, the London-based council said in
an e-mailed report today. Its May forecast was 240 million tons.
Grain production in the year will be 1.66 billion metric tons,
0.6 percent less than previously forecast.


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