In its most recent crop monitoring report for September, the International Grains Council (IGC) has raised the estimate for world grain production (soybean, corn, wheat and rice) in the 2018/19 cycle to 2.072 billion tonnes, a slight advance of 0.4% compared to the August projection [2.063 billion tonnes].
The board practically kept the forecast for the global grain trade in the 2018/19 crop, as the September forecast was 369 million tonnes, only one million less than the August estimate.
The IGC revised up slightly the world consumption forecast for the 2018/19 season to 2.136 billion tonnes, up 0.3% from August’s estimate of 2.129 billion tonnes.
Meanwhile, global stocks at the end of the 2018/19 period are expected to reach 544 million tonnes, six million above the August projection, an increase of 1.1%.
This text was translated by machine from Brazilian Portuguese.