IGC increases world grain harvest compared to previous month – consumption remains higher In its latest July issue, the International Grains Council (IGC) put the world grain harvest at 2,297 million t compared to the previous month's estimate. slightly increased. Grain production is expected to be 1.7% higher than in the previous year. Global grain consumption is estimated at 2,306 million tons . This will make it necessary to reduce inventories . The number of supplies falls from 26 in the previous year to 25.2% at the end of the year. So the fundamental supply/demand ratio will be tighter. Added to this are the uncertain effects of the Ukraine war. The production figures for wheat are significantly lower at 784 million t (previous year 803 million t). However, consumption is estimated at 804 million t; this means a sharp depletion of stocks and a shortage of supplies in this area, which at the world level is predominantly geared towards human nutrition.In contrast, the global corn harvest is estimated to be much more favorable at 1,220 million t (previous year 1,156 million t). Consumption is said to be 1,205 million t . This allows inventory to be built up.
