World: World total grain output expected to slightly increase in 2016/17

IGC’s estimate of world grain production in 2016/17 is 2.046 vs. 2 bln tonnes last year.

According to the analysts, there will be 40 mln tonnes more corn harvested in the USA (in Sept/Oct) and Brazil (only in early 2017). A production plus of 6.5 mln tonnes of wheat in Russia and 5.7 mln tonnes in the U.S. will be compensated by a sharp fall in France. The IGC estimate of 34 (= minus 8.5) mln tonnes of French wheat is higher than recent trade estimates of 30 mln tonnes. However, world stocks of grains and oilseeds will be more than comfortable and leave little room for better markets.

Black Sea wheat and barley exert enormous pressure on world markets, H. M. Gauger GmbH said in their latest report.

21 August, 2016