The forecast of world grain production in the current season increased by 6 million tonnes to a record in 2011 million tons because of improving prospects of the corn crop in the southern hemisphere. Compared to last season, global production will increase by 5%.

Despite the high demand for grain carryover stocks reached a new peak of 516 million t (+8% compared to last season), which is 3 million tonnes more than predicted in March.

The forecast of world grain trade also increased by 2 million tons, as India imports more wheat than previously expected. The volume of world trade will amount to 345 million tonnes, only 1 million below the record set last season.

Upward revised forecast of the gross grain harvest in the next season: with 2050 million tons until 2054 million tons, including of wheat: from 735 million tonnes to 736 million tons, corn: 1024 million tonnes to 1026 million tonnes.

Estimate of world consumption of grain in the 2017/18 season has not changed – 2079 million tons (+4 million tons).

Forecast carryover stocks increased by 8 million tons to 491 million tons (-5%), including wheat by 5 million tonnes to 239 million tonnes (-1 million tons), corn – 2 million tons to 207 million tons (20 million tons).

Grain trade in the next season will remain fairly active. The volume of trade will amount to 342 million tonnes, 2 million tonnes more than predicted in March and 3 million tons less than in the current season.

Photo: slovosti.ru