IGC, Global grains and soybean market overview - highlights June 2021

A recent article, featuring an update from oilworld.ru and the IGC Forecasts, provides an overview of the global agricultural market, focusing on cereal production, grain trade, and the outlook for various crops. The article highlights a downgrade in Brazilian corn forecasts due to a decline in global grain production, but an increase in world trade forecasts. It also notes a record high in total cereal production, including wheat and barley, with strong consumption leading to low carryover stocks. For the 2021/22 season, global grain production is projected to rise, although carry-over stocks are expected to remain low. Additionally, global soybean production is estimated to grow, with trade expectations, especially to Asia. Furthermore, global rice production is expected to increase due to large harvests in Asia, despite potential decreases in supplies to South Asia. The article also mentions the IGC GOI experiencing a second consecutive month of decline, primarily due to common crop prices, with the wheat sub-index showing a 4% increase.