IGC. Review of the grains and soy market. Key points, November 2025.

MAIN EVENTS The forecast for total grain production (wheat and feed grain) this month has been revised upwards by 5 million tons to a record 2430 million tons, including an increase in the wheat, corn, and barley harvest. The harvest is currently exceeding expectations, with forecasts being revised upwards in subsequent reports from August. Total grain demand is expected to grow by 2% year-on-year, with feed and food consumption growth exceeding last season's rates and the five-year average. Due to the expected significant surplus, end-of-season stocks (total for the respective marketing years) are expected to grow year-on-year, which is 1 million tons more than last month and amounts to 619 million tons. Due to an improved forecast for sorghum, the forecast for world trade has been increased by 3 million tons to 442 million tons, reports oilworld.ru citing IGC. Taking into account minor adjustments made by several producers, the world production of soybeans in 2025/26 MG is ...