IGC sees global grain, soyabean output little changed


Low prices have failed to disincentivise agricultural production as the output of world’s grains and soyabeans in the 2017-18 crop year remains largely unchanged from record levels the year before.

The International Grains Council predicts grains production to total 2.1bn tonnes, down 2 per cent from the year before, while soyabean output is forecast to fall less than 1 per cent to 349m tonnes.

The slump in grains prices has been bad for farmers, but good news for consumers, boosting demand to new highs. As a result, inventory levels are expected to fall for the first time in five years, albeit by a marginal level.

Demand for soyabeans also remains strong thanks to increasing meat consumption in Asia, leading to declines in stocks.


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