IGC forecast of the global wheat production reduced by 2015/16

The International Grains Council has reduced its monthly forecast of global wheat production 711 million tons by 2015/16 of 715 million tons. That would be the value behind the results of the previous year from 721 million tonnes.
Founded the reduction of forecast in detail is as follows:
India:-3 million tons (of 91 million tons to 89 million tons)
Australia: - 1.5 million tons (from 27 million tons to 25.5 million tons)
European Union: - 1.2 million tons (of 150 million tons to 148.8 million tons)
Increased predictions:
Ukraine: + 1.0 million tonnes (from 21 million tons to 22 million tonnes)
The forecast of global consumption of wheat rose by 2015/16 from 710 million tons to 713 million tons. Thus, the stocks at the end of the marketing period 196 million tons in 2015/16 would easily are below last year of 198 million tons.

The forecast of the global corn production in 2015/16 increased to 963 million tons from 961 million tons. Last year's result was 999 million tons. Corn consumption would therefore rise from 974 million tons to 976 million tons. Thus the global may send stocks to the end of the marketing period would be 2015/16 to 188 million tonnes (previous year: 201 million tons).
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