IGC increased the forecast of wheat production in 2019/20 Mr
In the January report experts CIG increased the forecast of world wheat production in 2019/20 MG to 751 million tonnes, which is 2% exceeds that of the current season. Adjustment made due to the growth of production in Russia and India.
Russia increased its crop estimate from 69.5 to 71.6 mln t, for India to 95.5 99.7 million tons.
Despite the increase in the forecast of Russian wheat exports in the season 2018/19 1 million tonnes to 33.5 million tonnes, total world trade will decrease. US export potential was reduced by 1 million tonnes to 28.5 million tonnes for the EU – 700 thousand tons to 19.8 million tons.
Assessment of global corn production in 2018/19, the Year also increased, in particular for Ukraine by 2 million tons to 35.5 million tons, EU countries – 3.5 million tonnes to 65 million tonnes for Brazil production forecast was reduced by 1.6 million tonnes to 93.5 million tonnes, South Africa – 1.6 million tonnes to 10.7 million tonnes.