News
10.10.2012
IGC Cuts 2012-13 Global Grain Output View by 9M Tons
The International Grains Council on Friday reduced its estimates for world wheat and corn production in 2012-13, with total grain output now expected to be down 4.4% on the year.
Tight supplies and high prices are expected to reduce consumption y/y, particularly for feed.
World carryover stocks are revised yet lower and forecast to contract by 40m t to 332m, a five-year low.
