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The IGC lowered its forecast for global grain production
Potential gross yield in Russia is estimated at the level of 118,8 million tons
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In season 2020/21, the world production of grain may amount to 2218 million tonnes, the report of the International grains Council (IGC). This is 5 million tons less than forecast in March, but at 43 million tonnes more than last year's result, mainly due to the corn crop which can add to 39 million tons and to achieve 1158 million tons forecast Correction connected with bad weather conditions in Europe and the black sea region, the report said IGC.

So, the grain harvest in Ukraine (excluding the Crimea) this year may be 118,8 million tons, the IGC month ago, analysts predicted 1 million tons more. Including the wheat harvest is estimated at 79 million tons (a month earlier it was 80 million tons). Also reduced crop forecasts in the EU countries and Ukraine. EU in the new season will produce 283,8 million tons of grain (in the March report 284,2 million tonnes), of which U.S. $ 131.7 (132.2 million tons) of wheat. Foreign markets will take 40.8 million tonnes of grain (42 million t), including 27 million tons of wheat (in the March report of 27.8 million tons). The harvest in Ukraine will amount to 70.2 million tonnes is expected in March to 71.4 million tons, of them wheat — 26.5 million tons (27 million tonnes in the previous report).

World grain consumption is estimated at 2222 million tons, 4 million tons lower than a month ago due to the reduction in industrial use of grain, but at 41 million tonnes more than last year. All sectors of demand expected to show strong growth, although industrial consumption will increase less than previously predicted. Prospective assessment of world stocks from last month increased by 12 million tons to 617 million tons, carry-over reserves of all types of grains although it will be reduced, but not significantly (approximately 3 million tons).

Forecast of consumption of grain in Russia has not changed and is estimated at 72.6 million tons (plus 0,6 million tons for the current season). Including 16.8 million tonnes will go into food, 4.7 million tons for industrial processing, of 40.3 million tonnes for feeding livestock and poultry.

Due to the deteriorating prospects for shipments of feed wheat the forecast of world trade decreased compared to the previous survey on 1 million tonnes to 384 million tonnes, including wheat rating lowered by 3 million tonnes to 177 million tonnes. However, the IGC expects global trade will reach a new peak, and volume of deliveries to 3 million tons higher than the figure recorded season-2019/20. The exports of Russian grains in the season 2020/21 is expected to reach 47 million tonnes, including 37.4 million MT of wheat. A month earlier, analysts predicted the export of wheat to 1 million tons more.



Translated by service "Yandex.Translation"
Источники: Агро Инвестор