IGC estimates the world grain harvest higher as USDA, end stocks are equal. The International Grains Council (IGC) has raised again the world grain harvest, compared with the previous month's estimate in its recent issue of Oct. The result is approximately 17 million tonnes over the last USDA estimate at the beginning of the month. Because consumption is also higher falls, the closing stock on approximately equal magnitude of just under 500 million tonnes. The supply figures differ only slightly in the descendant branch Ellen area. The improvements of crops of the IGC are first and foremost from the higher estimated results in the United States, Russia, Kazakhstan and Argentina. The figures for the EU were raised slightly in terms of consumption. Increasing closing inventories are noted for the United States and Russia. Clear differences in the assessment of the global wheat market. While only minor differences in the production and consumption figures, the inventories are classified as significantly different. The USDA to end stocks comes from 248 million tons or a supply number of 33.7% for consumption during the IGC has only t 233 million or 31.6%. It remains appropriate to the long-term average of 28.6% in both cases an above-average supply situation. In the case of the corn market the IGC estimates at 10 or 5 million tonnes higher production or consumption as the U.S. Department of agriculture. According to is a difference in the end by about 5 million tonnes. As a result, assessing the supply situation differs but only slightly in the descendant branch Ellen area of 21.4%. The long-term average is 18.6%. Provides the IGC estimates in the essential confirmation dar of the more acclaimed USDA reports. In this respect, impact on the listings will be not expected to.
