IGC Increased Its World Grain Production Forecast

27 Feb, 2017
IGC Increased Its World Grain Production Forecast
IGC analysts increased their forecast on grain production worldwide in 2016 – 2017 up to the record 2.1 billion tons versus 2.09 billion tons in itsmJanuary forecast and 2.01 billion tons in 2015 – 2016.

Australia is the main reason for the growth with its current season record wehat and barley yields. Increased corn yield in Soth America, too.

Wheat production forecast remains unchanged at 752 mln tons versus 737 mln tons in 2015 – 2016. Wheat ending stocks will be record high at 236 mln tons versus 235 mln tons in the previous forecast. The result is +15 mln tons more than the stocks at the end of 2015 – 2016.

Corn yield has been increased to 1.049 billion tons (1.045 and 0.97) and consumption is up to 1.035 billion tons (1.028 and 0.97).