Harvest-2015 will reiterate record of last year- IGC
According to the report of the International Grain Council (IGC), in 2014/15MY, global production of grain of all kinds (wheat and feed grain) will remain on the record level of last year, of 2 billion tons.
Despite of expected growth in consumption, especially for feed grain, total ending inventories at the end of the season, according to projections, will increase by 6% to the highest level in 15 years; this is due to the large reserves retained from last year.
Trade volumes, according to the IGC, are likely to decline by 3% from last year, considering reduction in shipments of wheat and corn.
According to the forecast for 2015/16 MY, on the other hand, global production of wheat should be reduced since return to average yields is more than enough to compensate for a slight increase of harvesting area.