(29 Aug 2014)
- World grains production in 2014/15 is forecast to be only marginally below last year’s record.
- Although consumption is forecast to expand, global ending stocks are expected to reach a 15-year high. World trade is projected to remain at a high level, only slightly below last year’s record.
- Led by bumper crops and surpluses in major exporters, aggregate world soyabean inventories are projected to expand strongly in 2014/15.
- The world rice carryover in 2014/15 is forecast to fall by around 4% y/y, mainly reflecting a steep drawdown in major exporters’ inventories.