The volume of world grain production in 2016 will amount to 2.58 billion tonnes, 6 million tonnes above the November forecast and 1.7 percent (44 million tons) higher than 2015

According to the report, the main reason for the revision of the forecast in the direction of increase this month is associated with improved forecast of the corn crop and wheat.

It is noted that wheat production in 2016 will amount 749 million tonnes, 2.6 million tonnes more than the previous forecast and 1.9% (14 million tons) more than in 2015, the Increase is attributed to the improved crop Outlook in Iran and Kazakhstan.

The estimated production volume of corn in the world was also increased by 2.9 million tonnes to 1.03 million tonnes, which is 2.1% (21.4 million tons) higher than in 2015.

Recall that the predicted FAO, the global cereal stocks in 2016/17 MG were revised upwards by 8 million tonnes to 670 million tonnes, representing a new record level.