The forecast of world grain production in 2015-2016 is increased by 2.4 million tonnes

Almaty. November 17. Silkroadnews - forecast world for grain production in 2015-2016 is increased by 2.4 million tons, indicates the report of the International Grains Council (IGC).
IGC revised its forecast for world cereal production in 2015-2016, in a big way - by 2.4 million tonnes compared with the previous month, or up to 1.9988 billion tonnes. Nevertheless, such an assessment is still lagging behind at 1% of the record level of the previous season (2.0259 billion tons).
Forecast for world consumption also increased compared with the previous month by 5.2 million tons to 1.9914 billion tonnes. Estimates of the volume of the world grain trade has been raised in the current report by 1.4 million tons compared to earlier expectations, to 314.9 million tons, in the previous season the figure was 7.1 million tonnes higher.
Expectations of experts on the global carryover stocks in this season were lower by 1.3 million tonnes compared with the previous reporting month and fixed at 454.4 million tons. In 2014-2015, the figure was 7.4 million tons less.
In addition, analysts of IGC during the current reporting period, made a number of adjustments to the forecasts for the yields of most major crops in the 2015-2016 season.
For example, world wheat production in the year under review, according to the latest estimates, may reach 725.9 million tons.
The current IGC forecast for corn harvest in 2015-2016 totaled to 969.7 million tonnes, ahead of the previous estimations of 2.8 million tonnes. A year earlier, production of this crop in the world was at the level of 1.011 billion tons.
World production of rice in the 2015-2016 season, according to the current forecast, could reach the mark of 474.1 million tons. This is 2.5 million tons less than previous expectations.
Evaluation of world production of soybeans in the published report of IGC is fixed at 319.1 million tonnes. Analysts' expectations with regard to the global oilseed crop in the previous month were 1.9 million tons less.
World trade in rice, according to the latest estimates of IGC analysts, in the 2015-2016 year will reach 41.5 million tons. Consumption in the 2015-2016 crop year, the current report estimated at 486.7 million tons. The volume of world ending stocks of rice in this period may be reduced to 94 million tons, said experts.