IGC still estimates world grain harvest at a rising level compared to the previous year. The International Grains Council (IGC) estimates global grain production at 2,177 million tonnes in its most recent May issue is still up 1.8% on the previous year. The new results are only insignificantly lower than those from the April-19 estimate. Consumption is expected to increase by 1.2% year-on-year to 2,192 million tonnes . For the previous month's estimate, however, the amount is only slightly reduced. The overlay stocks fall for the 4th year in succession back to 602 million tonnes, mainly due to the depletion of maize, according to calculations by the IGC. Global corn production is estimated at a declining 1,118 million t . The decline is relatively small at -8 million tonnes , considering the recent developments in delayed or prevented US corn orders. Current developments in the US may have been little taken into account in the IGC estimates.With a slight increase in consumption, stock inventories are significantly reduced according to IGC calculations. That could get worse in the face of developments in the US. In the case of the global wheat market , the IGC expects rising final stocks of 276 million tonnes . Global wheat production is expected to grow by 4.3% to 766 million tonnes , while consumption will only increase to 753 million tonnes. The results of the recent IGC estimate are unconvincing given the dramatic growing conditions in the US. Shortly before the end of the sowing season, in the case of maize, approx. 40% of the areas not ordered . The already late sowing leads to yield reductions of roughly 0.7 dt / ha and day after May 30; this has been the result of relevant studies from previous years. Worst of all, the bad weather period continues according to the weather forecasts.Recent reports from Australia speak of a prolonged drought in the southeast of the country. It could be the second weak crop in a row. Some parts of southern Russia and Ukraine also report dry damage. Above-average precipitation has led to floods and storage crops in parts of Europe . The weather risks in the coming weeks will make one or the other dash through the calculations of the harvest forecasts.
