The International Grains Council (IGC) has raised its forecast of global maize and wheat harvest despite the recent market uncertainty increased, but remained below the level of the previous year with forecasts.
The estimate of global wheat production by 2015/16 has been increased from 705 million tons to 715 million tonnes (previous year: 721 million tonnes). The global end stocks at the end of the season by 2015/6 were estimated at 200 million tonnes (unchanged to the previous year).
Significant changes:
China: + 9 million tons from 118 million tons to 127 million tons
Russia: + 3 million tons from 52 million tons to 55 million tons
Ukraine: + 1 million tons from 20 million tons to 21 million tons
India:-3 million tonnes from 94 million tons to 91 million tonnes
United States: - 0.8 million tons of 59 million tons to 58.2 million tons
The forecast with 961 million tons to 10 million tons over the previous forecast is the global corn production . In the previous period, a total of 997 million tonnes were harvested corn. The global corn end stocks were estimated at 187 million tonnes (previous year: 201 million tons.)
Significant changes:
Brazil: + 3 million tons from 75 million tons to 78 million tons
United States: + 1 million tonnes from 331 million tons to 332 million tons
China: + 1 million tonnes from 219 million tons to 220 million tons
