IGC sees tighter maize supplies in 2018-19

26.03.2018

In its initial forecast for 2018-19, the International Grains Council forecast ending stocks of wheat and coarse grains of 560 million tonnes, down 46 million, or 8%, from 606 million tonnes in 2017-18. Accounting for the projected decrease is a 14% reduction in corn ending stocks in 2018-19. Wheat ending stocks are expected to fall by only 1.2% in the new crop year.

Total grains production in 2018-19 is estimated at 2.087 billion tonnes, down from 2.092 billion in 2017-18. Consumption, meanwhile, is forecast at 2.134 billion tonnes, up from 2.109 billion tonnes in 2017-18.

Corn production in 2018-19 is expected to edge upward by 7 million tonnes in the new crop year to 1.052 billion tonnes, but consumption is forecast at 1.094 billion tonnes, up 20 million tonnes from 1.074 billion tonnes in 2017-18.

Global wheat production in 2018-19 is forecast at 741 million tonnes, down 2.2% from the year before. Consumption is forecast a bit higher, at 744 million tonnes compared with 742 million tonnes a year ago.

Soybean production in 2018-19 is forecast at 354 million tonnes, up from 341 million tonnes in 2017-18, while consumption also is forecast higher, at 358 million tonnes, which compares with 347 million tonnes a year ago.

Rice production in 2018-19 is forecast at 492 million tonnes, up from 486 million tonnes in 2017-18. Rice consumption also is forecast higher, at 491 million tonnes, which compares with 487 million tonnes in 2017-18.


world-grain

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