Apr.2025: IGC corrects 2025-26 harvest estimate - more maize - wheat scarcer
In its April 25 issue, the International Grains Council (IGC) revised the world grain supply estimate for 2025/26 slightly higher than the March 25 estimate. Production is estimated at 2,373 million tons (previous year: 2,303 million tons). Consumption is estimated at the same level as the harvest (previous year: 2,328 million tons). The supply situation is calculated at 24.4% final stocks to consumption and thus remains at the previous year's level.
Wheat production is revised slightly downwards compared to the previous month to 806 million tons. However, only 798 million tons were produced in the previous year. Wheat consumption rose to 814 million tons (previous year: 802 million tons). This results in a reduction in stocks of -8 million tons to 260 million tons.
In the new edition, the IGC estimates global maize production to be significantly higher at 1,274 million tons (previous year: 1,218 million tons). The increase in US acreage at the expense of soybean acreage plays a significant role in this. Consumption is expected to rise to 1,269 million tons (previous year: 1,237 million tons). The production surplus will lead to an increase in stocks to 281 million tons (previous year 276 million tons). This puts the supply situation in the narrow middle range of the last 10 years.
At 293 million tons, production of the remaining grain is slightly higher than consumption of 290 million tons. In the previous year it was the other way around. It is therefore possible to build up stocks.
