(27 Mar 2014)
- The IGC GOI is up 1% m/m, with increases for wheat, maize and barley partly offset by declines for soyabeans and rice.
- Price volatility has increased, particularly for wheat and maize, with tensions in the Black Sea region, and sentiment has turned more bullish.
- Total grains output is tentatively forecast to decline by 1% in 2014/15 as yields retreat or, for maize, remain unchanged.
- The global carryover is seen up 14m t by the end of 2014/15, with an 18m rise in major exporters.
- World trade is expected to dip by 2% from the record high forecast for the current Jul/Jun year.