In its most recent crop follow-up report for October, the International Grains Council (IGC) has raised the estimate for world grain production (soy, corn, wheat and rice) in the 2018/19 cycle to 2.081 billion tonnes, a slight advance of 0.4% compared to the forecast for September [2.072 billion tonnes].
The council maintained the forecast for global grain trade in the 2018/19 crop by 369 million tonnes.
The IGC revised up slightly the world consumption forecast for the 2018/19 season to 2.138 billion tonnes, up 0.1% on the September estimate [2.136 billion tonnes].
Meanwhile, global stocks at the end of the 2018/19 period are expected to reach 560 million tons, sixteen million more than the projection of September, an increase of 2.9%.
This text was translated by machine from Brazilian Portuguese.