ADVERTORIAL

HOLLARD

VERSEKERING

IGC lowers world soybean production, raises corn

The International Grains Council on Jan. 24 issued its Grain Market Report for January in which it lowered its forecast for 2018-19 world soybean production and raised its outlook for the 2018-19 corn crop. The IGC also provided other updated supply-and-demand forecasts for those crops for the current marketing year.  

The IGC forecast world soybean production in 2018-19 at a record 363 million tonnes, down 4 million tonnes from the November projection (IGC doesn’t issue a monthly report in December) but up 22 million tonnes from 341 million tonnes in 2017-18. The IGC indicated its lower world soybean production forecast reflected continued hot, dry weather in Brazil, where the harvest was well under way.

World soybean consumption in 2018-19 was forecast at a record 353 million tonnes, down 3 million tonnes from the November projection but up 8 million tonnes from 345 million bus in 2017-18, the current record. The lower consumption forecast was attributed to reduced demand in China. The IGC forecast China’s soybean consumption in 2018-19 at 105.2 million tonnes, down 4 million tonnes from the November projection and down 3.4 million tonnes from 108.6 million tonnes in 2017-18.

World trade in soybeans in 2018-19 was forecast at 152 million tonnes, unchanged from the November outlook but down 1 million tonnes from 153 million tonnes in 2017-18. The IGC forecast China’s 2018-19 soybean imports at 87.5 million tonnes, down 0.5 million tonnes from the November projection, down 4.5 million tonnes from 2017-18 and down 9.4 million tonnes from a record 96.9 million tonnes in 2016-17.

The IGC forecast 2018-19 world soybean ending stocks at 54 million tonnes, up 3 million tonnes from the November projection and up 10 million tonnes from 44 million tonnes in 2017-18. Of the 2018-19 carryover, 30 million tonnes will be held in major exporting countries.

The IGC forecast world corn production in 2018-19 at 1.076 billion tonnes, up 3 million tonnes from the November projection and up 29 million tonnes, or 3%, from 1.047 billion tonnes in 2017-18 and compared with 1.087 million tonnes in 2016-17.

The I.G.C. forecast world corn consumption in 2018-19 at 1.109 billion tonnes, down 3 million tonnes from the November outlook but up 37 million tonnes, or 3%, from 1.072 million tonnes in 2017-18.

World trade in corn in 2018-19 was forecast at 160 million tonnes, up 1 million from the November projection and up 8 million tonnes, or 5%, from 152 million tonnes in 2017-18.

The IGC forecast 2018-19 world corn ending stocks at 271 million tonnes, up 5 million tonnes from the November outlook but down 33 million tonnes, or 11%, from 304 million tonnes in 2017-18.


ADVERTORIAL

SASOL

FERTILIZER 

Farming Diary

Oct
29

10.29.2019

Mar
3

03.03.2020 - 03.05.2020

Jun
17

06.17.2020 - 06.19.2020

ENCA - Latest

Feed not found.