World's farmers to grow less wheat in 2010: CWB

Farmers will produce the world's smallest wheat crop in three years in 2010 as big global supplies weigh down prices and steer more acres to other crops, the Canadian Wheat Board said on Friday. In its first market outlook of 2010, the Wheat Board, one of the world's biggest grain marketers, also said the outlook for durum wheat is negative because of burdensome supplies.
"It's not that world (wheat) demand has been extremely poor, it's just that our production has been quite high," said Bruce Burnett, the Wheat Board's director of weather and market analysis. The world will produce 644 million tonnes of all types of wheat, down 4.7 percent from the 2009 crop, he said.