IGC new crop estimate from July 01, 2013

IGC estimate from July 1, 2013: 2013/14 grain harvest even higher

In its latest harvest estimate for the 2013/14 marketing year, the International Grains Council (IGC) has again slightly revised upwards its previous month's data from May 2013. The most important key data compared to the previous month's estimate in May 2013:

- At 1.92 billion tons, the global grain harvest is again classified as 3 million tons higher.

- The wheat harvest is increased by 1 million tons to 683 million tons. The maize harvest also rises by 1 million tons to 946 million tons.

- Grain consumption is left unchanged at 1.88 billion tons.

- Total ending stocks increase by 1 million tons to 368 million tons. Ending stocks remain at 19.5% of consumption.

In the previous year, this figure was 18.26%. The sharp increase in maize stocks of 30 million tons compared to the previous year is striking.

Compared to the estimates of other institutions, the IGC remains at the lower end of the forecast figures.

Conclusion: The global supply remains just below the multi-year average of 20%, but has improved compared to the previous year.

Comparison of different harvest estimates