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

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 ...