World: Main grain trends from the November report of the International Grains Council

Published 2023년 11월 20일

Tridge summary

The November report from the International Grains Council predicts a decline in wheat trade due to lower imports and increased production. Corn consumption, on the other hand, is expected to grow with higher yields in the USA, leading to an increase in global production. Soybean production is projected to reach a record level due to increased crops in South America, but trade may decline due to potential cuts in supplies to China and Argentina.

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Original content

Wheat trade may decline. Corn consumption is growing Here are the main forecasts and theses from the November report of the International Grains Council (IGC). The forecast for world grain production is 2296 million tons (3 million tons higher than expected in October). The reason is an increase in forecasts for corn (high yields in the USA) and wheat (increased production in Ukraine, Russia and Turkey). Forecasts for grain consumption (+3 million tons), carryovers (+3 million tons) and world trade (+1 million tons) were also increased. Overall demand for grain is growing mainly due to increased consumption in the feed and industrial sectors. Wheat World wheat production will decrease compared to the previous agricultural year. The harvest is expected to be the second largest on record. The November forecast is higher than the previous one by almost 2 million tons and amounts to 786.6 million tons. The forecast for global imports is 195.7 million tons. This is lower than in ...

Source: Zol