USDA: Latest estimate grain market 2018/19 - Slightly improved supply situation The most recent and latest estimate by the US Department of Agriculture (USDA) for the grain year 2018-19 revealed a number of minor adjustments on the supply and demand side. Total production increased to 2,110 million . t caused by higher-rated corn crops in different parts of the world. On demand side e, wheat consumption decreased . All in all, the final inventory of 618 million tonnes is not quite as low as previously estimated, but still remains 5% below the previous year's level . When assessing the end-of-world stocks, one should keep in mind the diverging trends with and without China . Because the established Chinese reserves are not available to the importing countries of the rest of the world. In the wheat sector , the harvest estimates remained almost unchanged .In terms of consumption , 3 million tonnes, with a focus on feed, was cut because wheat prices can not compete with maize prices . The final inventory increases from 270 to 275 million t. Corn production will be increased by 6 million tonnes to 1,107.4 million tonnes . The harvests in Argentina and Brazil make a significant contribution to this. The EU corn crop also raised the USDA by 2 million tonnes to 63 million tonnes. On the consumption side , nothing moves on balance. Expectations of higher corn use for bioethanol have not been met . Global corn stocks increase by 5.5 million tonnes to 314 million tonnes, with a focus on the United States. For the other cereals, only insignificant changes can be observed. The stock market prices in Chicago took up the new numbers calmly.The price for the new front month May-19 decreased to 456 ct / Bu or 14.98 € / dt for wheat, while marginally increased to 361 ct / bu and 12.63 € / dt respectively . On the Paris Stock Exchange , wheat prices followed a yielding 18.85 € / dt for the month of May. Corn has so far remained unchanged at 17.05 € / dt for the delivery month Jun-19. USDA's next month's report is on the new 2019/20 crop. One may be curious about the result.
