In its most recent crop monitoring report for November, the International Grains Council (IGC) has reduced the estimate for world grain production [soy, maize, wheat and rice] in the 2018/19 cycle to 2.079 billion tonnes, a slight fall of 0.09% compared to the October projection [2.081 billion tonnes].
On the same basis of comparison, the council cut by one million tonnes the forecast for the global trade of grains in the 2018/19 harvest, now set at 368 million tons.
The IGC also reduced the world consumption estimate for the 2018/19 season by one million tons, now set at 2.137 billion tons, based on the same basis of comparison.
The projection for global stocks at the end of the 2018/19 period was maintained at 560 million tons.
This text was translated by machine from Brazilian Portuguese.