According to the report, the FAO predicted volume of reserves at the end of the season has been revised upwards with the gradual improvement of the crop, mainly wheat and feed grains.

It is noted that the volume of global wheat reserves in 2016/17 MG will reach a new record level of 238.5 million tonnes, 3.3 million tonnes higher than in the November forecast and 5.3% (12 million tons) more than at the beginning of the season.

The increase in wheat stocks would provide China, the US and Russia.

FAO analysts forecast that world stocks of coarse grains are estimated at 261 million tonnes, nearly 4 million tons more than anticipated earlier and almost 1% (2.4 million tons) above the level of the beginning of the season. The entire increase in world stocks of feed grains this month is accounted for by maize, whose reserves amount to 212 million tonnes, which is 2.3% (5 million tonnes) higher than in the previous season.

The increase fell to the share of the United States, where reserves increased by 17 million tonnes to the maximum historical level of 61 million tons is expected this increase will more than cover the reduction of stocks of corn in China by 13.5 million tonnes to 90 million tonnes.

Recall that November's IGC increased the forecast of world cereal production in 2016/17 MG to 2,084 billion tons