USDA Jan20 report: Global grain supply cut 2019/20 In the first report of the new year, the U.S. Department of Agriculture cuts global grain supply to 28% final stock for consumption. The remaining stock level in this cereal year is only enough for 103 days, in previous years it was approx. 114 days. The global wheat harvest is cut by 1 million because the results in Russia and Australia had to be revised downwards. Exports are expected to be 2 million tonnes larger, in particular because larger export deliveries are expected for the EU. Wheat consumption is estimated to be 1 million t higher due to a large number of small increases in individual countries. The final stocks are expected to decrease by 1.5 million t. The low end stocks with only 31 million t of the 6 largest exporting countries , which are largely available for global delivery, are particularly striking. The world corn harvest is largely unchanged at 1,110 million t.By contrast, global consumption was increased to 1,133 million t. Consumption growth is predicted primarily in the United States due to increasing livestock and increased use of corn for bioethanol production. The final stocks fall below the 300 million t mark or to 26% of consumption. The arithmetic overlap stocks in the 5 largest exporting countries are strikingly small with only 13 million t; this corresponds to just 8% of the world's estimated import needs. This means that the Brazilian population of maize , which only started at the end of January / beginning of February. 20 is sown after the soybean harvest, a special meaning. For the EU , the US Department of Agriculture, in accordance with EU COM, estimates a harvest of 313 million tons, a consumption of approx. 296 million tons, exports of approx. 40 million tons. as well as imports (mainly maize!) of 26 million tons. The EU overlay amounts are only expected to increase slightly.Despite the imminent weekend, the wheat and corn prices on the Chicago Stock Exchange increased significantly and made up for the previous price cuts.
