USDA: Little News from the Grain Front Who of the US Department of Agriculture Monthly Grain Market Report (USDA) Expected significant price changes in October, looks disappointed. Only minor corrections were made. As a rule, current adjustments are always incorporated with a time delay; until sufficient reliable data is available. The USDA estimates the world grain harvest slightly lower at 2,162 million t the previous month . Compared to the previous year, it remains an increase of 36 million tonnes, mainly due to a higher wheat crop. This year's consumption is estimated at 2,169 million t , which is slightly higher than the current harvest. The price-influencing final stocks go back to 621 million t, but are still in the good midfield with 28.6% of consumption.However, the supply balance excluding China is much weaker with 16% final consumption and slips below average . The global wheat harvest estimates the IGC unchanged to the previous month to 765 million t. Consumption is corrected slightly downwards. Inventories are rising slightly to an above-average 288 million t. This means that the global wheat market with and without China is well supplied . The global corn crop leaves the USDA at 1,104 million t unchanged from the previous month, although weather-related losses in the US corn stock are foreseeable. Corn consumption is estimated to be slightly lower. In comparison with the previous year, inventories fell from 20 million tonnes to 302 million tonnes. The supply bill for maize without China is much tighter. The final stocks are only calculated at 106 million tonnes or 12.5% of consumption.This is well below the multi-year average . The stock market prices in Chicago have fallen back to the previous level after the previous high-altitude flight, but have already recovered a bit after the end of the day.
