IGC reduces estimative for world grain harvest 2019/2020

In its most recent crop follow-up report for June and released last week, the International Grains Council (IGC) reduced the estimate for world grain production [soy, corn, wheat and rice] in the 2019/20 cycle to 2.156 billion tons, compared to 2.177 billion tons in the May projection.

The council expects global grain trade in the 2019/20 crop to reach 370 million tonnes, up from 369 million tonnes in the previous estimate.

The IGC projects that world consumption in the 2019/20 season is expected to reach 2.187 billion tons, counts 2,192 bi tons of the previous forecast.

Meanwhile, global stocks at the end of the 2019/20 period are expected to add 588 million tons, compared to 602 million tons from the previous projection.

Posted by: Marina Carvejani