IGC expects world grain stocks to decline

The International Grains Council (IGC) predicts a significant decline in global grain stocks for the 2024-25 marketing year, reaching a 10-year low as consumption surpasses production. Cereal ending stocks are expected to decrease by 8 million tons to 576 million tons, a 3.5% drop from the previous year, with production at 2.311 billion tons and consumption rising by 4 million tons. Wheat and corn stocks are projected to fall by 9 million and 10 million tons, respectively, while cereal exports are anticipated to decline by 8% to 419 million tons, the lowest in six years. Despite a 2 million ton reduction in soybean production, it is set to hit a record 419 million tons, with consumption at 408 million tons, resulting in record ending stocks of 82 million tons. World rice production is forecasted to reach a record 535 million tons. The IGC Grains and Oilseeds Price Index remains stable from last month but is down 13% from the previous year. UkrAgroConsult provides a platform, AgriSupp, for market intelligence on grains and oilseeds, offering a 7-day free demo access.