IGC confirms previous result of reduced world grain supply. The International Grains Survey (IGC) in its latest Oct. 22 edition essentially confirmed, with minor changes, its previous month's estimate of world grain supply. Lower harvests in Argentina, USA, EU and Russia are almost offset by better results in Australia and China. World grain consumption was slightly reduced by 3 million t to 2,271 million t. The corrections to the overlay stocks resulted in a further reduction in the ending stocks to 584.4 million t. The range is reduced from 95 to 93 days. Without China, the supplies only last for 54 days. The global wheat supply is confirmed to be almost unchanged at the reduced level of the previous month. However, there is some uncertainty about the availability of Ukrainian goods due to the Black Sea shipping routes in question. In the case of the global corn market , however, the supply situation is becoming increasingly critical. Harvests in the EU and the US have been cut significantly.Only for China did the result increase slightly. Despite consumption already falling, ending stocks fell from 280 million t last year to 257 million t. The range is only 79 days (previous year 84 days). Without China it is only 34 days. German grain harvest better than expected The 7th harvest estimate of the German Raiffeisen Association (DRV) is based on the preliminary results of the Stat. Federal Office of 22. Sep.22 with the DRV's own additions to the maize harvest. Compared to the August estimate, the harvests for wheat, rye and barley were slightly increased due to higher yields per hectare. On the other hand, the corn harvest will be reduced by 20% compared to the previous year due to yields. At 3.54 million t, the threshing result is as bad as in 2018.
