(25 Jun 2015)
- At 1,966m t, world total grains production in 2015/16 is projected to be 2% lower y/y, although, overall supplies will be only fractionally down y/y.
- Grains consumption is seen remaining high and end-2015/16 carryover stocks are forecast to contract, but stay comfortable.
- Grains trade is forecast to be slightly lower y/y in 2015/16, but with maize at a near record.
- Major exporters’ rice stocks are expected to fall steeply in 2015/16, to an eight-year low.
- The 2015/16 global soyabean carryover is projected to expand slightly, to a fresh peak, as accumulation in key exporters more than offsets a drop in China.