IGC increased the forecast of grain production at 7 million tons
In his next balance the IGC increased the forecast of world cereal production in season 2016/17 MG relative to the October report by 7 million tons to billion ton 2,084.
wheat Production at 12 million tons will exceed the end of the season 2015/16, will be on 1 million tons more than projected in the October report and will reach 749 million.
World corn production at 71 million tons, exceeding the end of the season 2015/16 and will be 1.042 billion tonnes, 7 million tonnes more than was indicated in the September balance sheet.
carry-over stocks will rise relative to the previous report to 3 million to 224 million.
the Largest producers of grain crops in the world are China, USA and EU countries.
the Forecast of world soybean production increased to 336 million.
In Brazil in early 2017 soybean production may rise to 102.6 million tons against to 96.3 million tons in the current year. Corn production relative to the previous season increased by 20 million tons to 92 million tons.
Argentine MSG expects a significant increase in the acreage under wheat, and a corresponding increase in production from 11.3 million tons to 14.9 million tons.
In Russia the number of sown areas under winter crops compared with the previous year increased by 1 million hectares, reaching a record 17.3 million hectares Under winter wheat allotted 14 million hectares, which provides good prospects for the future harvest.
Experts believe that the growth potential in grain prices in 2017 will be significantly limited, if not will be jumps in the exchange rate or there is no influence of weather factors on the yield.