(31 Jul 2014)
- The outlook for global grains supplies continued to improve in the past month, with production now seen only slightly below last year’s record.
- Despite growing demand, 2014/15 carryover stocks are expected to post a moderate gain.
- Led by falls for wheat and maize, global trade is seen below the 2013/14 record, but still high.
- World soyabean carryovers in 2014/15 are set to rise by nearly 30% y/y, led by accumulation in the major exporters.
- Global rice stocks are forecast to fall for the first time in nine years in 2013/14, but inventories, especially in key exporters, will remain ample.