IGC once again increased the estimate of the world grain harvest in the current and next season
the international Grains Council again increased the forecast of world grain production and estimate carryover for the current and next season.
the Forecast for world production in the current season increased by 6 million tonnes to a record 2,011 billion tons, which is 5% higher than the end of last season. The forecast is increased due to the improved prospects of the corn crop in the southern hemisphere.
Despite strong demand, carryover stocks will increase compared to the previous year by 8% to 516 million tonnes, 3 million tonnes will exceed the forecast Mar.
the Volume of world trade will grow by 2 million tonnes to 345 million tonnes, only 1 million tons less than the record previous season. Evaluation increased by India, which imports more wheat than previously expected.
the Forecast of the gross grain harvest in the following season was increased from 2050 million tonnes to 2054 m t, in particular for wheat – from 735 to 736 million tons, corn – 3 1024 to 1026 million tons.
Estimate of world consumption in 2017/18 MG remained unchanged at 2,079 billion tonnes, 4 million tonnes will exceed the level of the current season.
Forecast accrual increased by 8 million tons to 491 million tons (5% less than the previous season), in particular for wheat by 5 million tonnes to 239 million tonnes (-1 million tons), corn – 2 million tons to 207 million tons (20 million tons).
the Volume of world trade in the next season will increase as compared to the current 3 million tonnes to 342 million tonnes, 2 million tonnes exceeds the March forecast.