May 1, 2003	Thursday	Safar 28, 1424

LONDON, April 30: A picture of recovering global grains production for 2003-04 is emerging, with a positive outlook from the International Grains Council after drought devastated some of the world’s traditional bread baskets this year.

The IGC said on Wednesday that world wheat output for 2003 would be 590 million tons, down one million from last month’s forecast but up 24 million on its estimate for 2002.

World wheat trade for the 2003-04 marketing year was put at 100 million tons, down from 103 million this season, with improved milling wheat trade and lower feed wheat exports.—Reuters