World Grain Yield Below Last Year
The Overall grain production for the 2015/16 year will fall short on last year, largely due to lower maize production this year.
Total wheat and coarse grain harvest will contract to 1,996 million tonnes, according to the monthly IGC market report.
Yet it’s suggest that grain stocks are forecast to rise to a 29-year peak, including record wheat inventories,but the out look for maize is that it will likely fall.
The downgrading of EU maize has contributed to a 38 million tonne drop in world yield projections.
Forecasts have said that the Grain trade is set to stay high, although it will be 3% below last year’s record.