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The international Grains Council slightly lowered its forecast of ending stocks of wheat in the world, but dramatically increased corn
The international Grains Council (IGC) in its February report downgraded the forecast for global wheat production in 2018/19 season by 2 million tons to 735 million tons. Mainly due to Australia and China. And this is by 3.8% less than last season. The Agency said Grain Online with a link to the official website of the IGC.
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Forecast world wheat trade remained at the level of January – 170 million tons, which is 2,9% less than in season 2017/18.

The forecast of world consumption of wheat decreased by 1 million tons to 744 million tons, but this is 0.4% more than last season.

The forecast of world ending stocks was reduced by 1 million tons to 262 million tons, which is 3.4% less than last season, mainly due to China. But it is still the second record in history. The forecast of ending stocks of wheat from exporters increased by 1 million tons to 66 million tons, which, however, is 19.6% less than the record score of the season 2017/18.

As for Russia, the IGC increased the forecast of wheat exports by 800 thousand tons to 34.5 million tons, and lowered the forecast of ending stocks by the same 800 thousand tons to 10.1 million tons.

IGC raised its forecast for world corn production in 2018/19 season by 33 million tonnes to 1,109 billion tonnes, thanks primarily to China. And this is 1.7% more than last season.

The forecast of world trade in corn remained at the level of January – 160 million tons, 5.2% more than last season.

The forecast of world consumption of corn increased by 38 million tonnes to 1,147 million tons, and here the main "culprit" - China. This is 2.6% more than in the season 2017/18.

The forecast of world corn ending stocks increased by 26 million tonnes to 297 million tonnes, again thanks to China and a bit of Argentina. This is 11.6% less than last season. The forecast of ending stocks of the leading exporters left unchanged at 61 million tons, 14.1% lower than last season.



Translated by service "Yandex.Translation"
Источники: Зерно Он-Лайн