Tridge summary
The International Grains Council's latest report for the 2024/25 season forecasts a slight tightening in the global supply and demand of total cereals, with production estimates reduced and consumption estimates raised. The global cereal production is expected to reach a new high, but at a slower rate due to lower estimates for barley and wheat. Meanwhile, global grain consumption is also expected to reach a record high, leading to a decrease in closing stocks. The trade forecast remains unchanged at 419 million tonnes, but there is an expected decline in global trade by 8%. The soybean production forecast has also been reduced due to a cut in the US crop estimate, while the world rice production forecast has been raised due to higher forecasts for India. However, world broad bean production and stocks are expected to decline in 2024/25, while total pulse trade is forecast to decline by 5%.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The latest forecast for global supply and demand of total cereals (wheat and coarse grains) in the current 2024/25 season suggests a somewhat tighter picture, with the production forecast cut and the consumption estimate raised, according to the November report of the International Grains Council (IGC). Global cereal production is now estimated at 2.311 billion tonnes, with the 4 million tonne reduction from last month largely attributed to lower estimates for both barley and wheat. Despite this decline, the harvest is still expected to reach a new all-time high, although only a modest year-on-year change in major cereal production is expected, following notable swings, particularly for maize, in recent seasons. Estimates for world grain consumption have also been raised by some 4 million tonnes since October, with higher figures for demand for feed, food and industrial uses. World cereal consumption could thus also reach a new record, with demand for food, feed and industrial ...
Source: Qcom.es
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