Fewer grains in 2017/18, but the total global supply remains high. That is the expectation of the International Grains Council in the market report that came out on Thursday.
For the first time in five seasons, global grain supplies look set to decline in 2017/18. This is due to lower production and increasing consumption. It IGC assumes a production of 2.05 billion tons compared to 2.10 billion tons in 2016/17.
The maize crop drops from 1.05 billion tons in 2016/17 to 1.02 billion tons. This is partly the result of declining production in the United States. Wheat production for 2017/18 is also lower and seems to come out at 735 million tons. A year earlier, that was 754 million tons.
Soybean production is heading for a new record next year, with 345 million tons.
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[url=http://www.boerenbusiness.nl/granen-grondstof/ artikel/10873985/Graan supply-reduced,-but-stays-on-high-level]Grain supply reduced, but remains at a high level[/url]