In its most recent crop follow-up report released on Thursday, the International Grains Council (IGC) increased the estimate for world grain production (soybeans, corn, wheat and rice) in the 2018/19 cycle to 2.063 billion tons, advancing 4 million tons compared to the July projection [2,059 bi tons].
The council maintained the forecast for the global grain trade in the 2018/19 harvest at 370 million tonnes.
The IGC revised up slightly the projection of world consumption in the 2018/19 season to 2.129 billion tonnes, against 2.128 billion tonnes from the July estimate.
Meanwhile, global stocks at the end of the 2018/19 period are expected to reach 538 million tonnes, up from 532 million tonnes from the July forecast.
This text was translated by machine from Brazilian Portuguese.