In 2017/18 MG ending stocks of wheat will rise, and corn – reduced
In its October report, the International Grain Council (IGC) estimate of world wheat production remained unchanged at the level of 748 million tonnes, which is 0.8% less than the previous season.
the global trade in wheat was also left at the level of the September to 174 million tonnes, lower than in 2016/17 MG 1.2%.
the Forecast of wheat consumption has reduced by 1 million tonnes to 741 million tonnes, which is 0.6% higher than consumption in the season 2016/17.
the Estimate for ending stocks of wheat increased by 1 million tons to a record 249 million tonnes, almost 3% more than the level of residues of the previous season.
compared with September balance experts IGC has increased the estimate for world corn production by 5 million tonnes to 1,034 billion tons, which is 4.2% below the harvest of last season.
the Forecast of world corn trade increased 1 million tons to 149 million tons, which is 8% higher than the previous season.
the estimated consumption of corn increased by 9 million MT to 1,067 billion tonnes, which is 1.2% higher than the amount consumed in 2016/17 MG corn.
Forecast corn ending stocks are reduced by 5 million tonnes to 203 million tonnes, which will be 13.6% less residue of the previous season.