IGC again reduces world grain harvest - less maize available In its latest Nov-20 estimate, the International Grain Council (IGC) has cut the world grain harvest by a further 7 million t to 2,219 million t compared to the previous month's results. In a year-on-year comparison with 2019, this year's production will still be approx. 23 million t higher. Worldwide consumption is estimated at 2,221 million t. This is only a slight decrease compared to the previous month, but an increase of approx. 28 million tons. The higher consumption expectations compared to the increase in production lead to a reduction in stocks to 616 million t, only slightly less than in the previous estimates. The range is 101 days compared to the previous year with 103 days. The corn sector is largely responsible for the cuts. The IGC estimates the global harvest to be 10 million tons lower than in the previous month. In a year-on-year comparison there is an increase of 22 million t.This contrasts with an increase in consumption of 16 million t. The result is a reduction in final stocks to 275 million t with a range of approx. 86 days (94 days in the previous year). The global wheat harvest is estimated slightly changed to 765 million t. Consumption is estimated to have increased slightly to 752 million t. With a slightly increased 292 million t, the final stocks range for approx. 142 days compared to the previous year with 136 days.
