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The IGC expects total grain production to be 2.
292 billion tons, which is higher than the downward revision of 2.
22 billion tons for 2020/21.
Due to the lower inventory at the beginning of the period, the impact of global production growth was partially offset.
292 billion tons, which is higher than the downward revision of 2.
22 billion tons for 2020/21.
Due to the lower inventory at the beginning of the period, the impact of global production growth was partially offset.
IGC said that driven by the increase in the use of wheat and corn, global cereal consumption is expected to increase by 59 million tons year-on-year to 2.
297 billion tons.
Therefore, ending inventory is expected to fall by 15 million tons year-on-year, a seven-year low of 595 million tons.
297 billion tons.
Therefore, ending inventory is expected to fall by 15 million tons year-on-year, a seven-year low of 595 million tons.
In terms of trade volume, although China's grain imports will remain high, they may not be as good as 2020/21, which makes the global grain trade volume of 2021/22 fall to 415 million tons for the first time in three years.
As far as the current annual supply and demand data is concerned, the total grain production in 2020/21 is reduced to 2.
22 billion tons, mainly due to the downward adjustment of Brazilian corn, but it is still 35 million tons higher than the total grain output in 2019/20.
As consumption growth exceeds production growth, ending stocks for 2020/21 are expected to decline for the fourth consecutive year.
22 billion tons, mainly due to the downward adjustment of Brazilian corn, but it is still 35 million tons higher than the total grain output in 2019/20.
As consumption growth exceeds production growth, ending stocks for 2020/21 are expected to decline for the fourth consecutive year.
Global grain trade in 2020/21 will reach a record high of 420 million tons, an increase of 26 million tons year-on-year, driven by China’s imports exceeding expectations.
As far as soybeans are concerned, global soybean production in 2020/21 is expected to be 361 million tons, an increase of 7% year-on-year.
Due to record consumption and declining imports, global soybean ending stocks are expected to decline for the second consecutive year.
Due to record consumption and declining imports, global soybean ending stocks are expected to decline for the second consecutive year.
In the 2021/22 season, global soybean production is expected to increase to 383 million tons, an increase of 6% year-on-year, because soybean prices hit a multi-year high, which will help encourage farmers to expand planting areas.