In its most recent crop follow-up report released last week, the International Grains Council (IGC) released a new estimate for world grain production (soy, corn, wheat and rice) in the 2019 cycle / 20, which is expected to reach 2.177 billion tons, compared to 2.138 billion tons of the last projection for the 2018/19 season.
The council forecasts that global grain trade in the 2019/20 crop is expected to reach 369 million tonnes, against 366 million tonnes from the latest estimate for the 2018/19 cycle.
The IGC projects that world consumption in the 2019/20 season is expected to reach 2.192 billion tons, counts 2,166 bi tons of the last forecast for the 2018/19 harvest.
Meanwhile, global stocks at the end of the 2019/20 period are expected to add 602 million tons, compared to 617 million tons from the last projection for the 2018/19 cycle.
Posted by: Marina Carvejani