(26 Jun 2014)
- A continued improvement in world supply prospects weighed on export prices in June.
- Despite a projected modest fall in world grains production, total supply is seen boosted by higher opening stocks.
- End-2014/15 grains inventories are forecast to grow again, while a moderate drop in trade is foreseen, albeit still at a high level.
- Boosted by tentative expectations for a bumper global outturn, the 2014/15 world soyabean carryover is set to rise by nearly one-quarter y/y, led by accumulation in leading suppliers.
- Although world ending stocks of rice are set to decline fractionally in 2013/14, they will remain ample, especially in major exporters.