IGC estimates higher world grain harvest - with China high end stocks The International Grains Council (IGC) has, in its July issue, the world grain harvest by 10 million tonnes bzw. 0,5 % höher estimated as in the previous month. The larger amount will be 1. Better expected line by the seen results in the United States, the EU, Russia, as well as Canada and Australia. The harvest by 10 million tons to fall, however, in China. Only a small increase is predicted on the usage page , the in the food and industrial sector is located. A higher production compared to consumption leads to a significant increase of closing stock on the record high of 482 million tonnes. The number of supply "stock to use ratio" rises to scarce 24%. 23.6% were calculated in the previous year and the prior year 22.4%. Excluding China due to low participation in world trade from the supply Bill, hardly a significant change in the supply situation is measured in the last 3 years most closing stock to determine consumption. In the case of wheat , the IGC increased its estimate to 729 million tonnes (previous year 735,6 million tonnes). The increase is to largely on higher harvests in Russia, the Ukraine and the United States. The EU wheat crop is increased only by 1 million tons. Of wheat consumption is estimated only little changed at 719.6 million tonnes the previous year. With significantly increased initial stocks are despite reduced harvest increasing end stocks again. With 31.5% closing stock consumption an average supply situation appears. 2 years ago still an average 28% value calculated is. Excluding the export-reluctant China from the supply Bill, one comes to the conclusion to one almost 1% percentage point lower supply situation for the rest of the world. China boosts its wheat stocks this year to just under 13 million tonnes, while in the other countries of the world end stocks to 4 million tonnes fall, but remain still in the average. In the case of the global corn harvest , an increase of 34 million tonnes is or + 3.5% expected. Higher scores are among others for the United States with 10 million tonnes for the EU with 5 million t and for the Ukraine with + 2 million tons estimated in advance. Of the global corn consumption is expected to increase almost as highly as the production. An increasing use in the food sector also contributes as a considerable consumption in the industrial sector with a focus on the bioethanol. As a result the corn production to 5 million tons is retracted the new Chinese grain market policy and consumption increases. The result is a deliberate reduction of surplus stocks, which are still 46% of consumption. The global corn balance leads to an insignificant change of closing stock at EUR 204 million t measured in consumption the global closing stock from 21% to 20.4% goes back
