IGC lowers month-on-month forecast for global grain production

IGC obniża prognozę miesiąc do miesiąca światowej produkcji zbóż

Month to month forecast

Including the lower outlook for feed use (mostly on farms), grain consumption is down 3 million tonnes to 2.321 billion tonnes, still potentially a record. Including lower opening stocks, the carryover stock estimate (combined for the corresponding local marketing years) is down 5 million tonnes to 581 million tonnes.

Year-on-year forecast

Global grain production is expected to reach a new peak in 2024/25, rising by 16 million tonnes year-on-year, including increases for wheat (+5 million), maize (+3 million), sorghum (+3 million), oats (+2 million) and barley (+1 million). Tight initial stocks mean that total supply is unchanged from last season, and with consumption expected to continue to grow, grain stocks are likely to tighten again, falling 1% to 581 million tonnes, a 10-year low. Partly due to larger harvests in many key destination markets, global trade is forecast to contract by 35 million to 419 million tonnes year-on-year.