World: Forecast for grain production for the next MY decreased by 12.000.000 t

The International Grain Council lowered the forecast for the production of cereals in the world by 12.000.000 t. Thus, in the next marketing season, the volume of grain crops production is expected at the level of 2,077 billion tons.

Such information was published in the report of the International Grain Council.

The June forecast of the grain council’s analysts for the next marketing season is minimal over the past three years.

In addition, experts have reduced the projected volume of final grain reserves to 544.000.000 t, which is 11.600.000 t less than in previous reports.

It should be recalled that, according to the forecast from the Grain Council in Ukraine in the next MY increase in the production of grain crops by 2.2 million tons is expected. The projected volume is 63.5 million tons.

Instability continues in the world grain market. According to the latest forecasts for the next year, grain production will decrease by 12 million tons. This is due to a number of factors such as weather conditions, logistics issues and rising fertilizer prices.

In addition, the strengthening of the national currencies of some countries also affects the situation on the grain market. In some cases, this leads to a decrease in exports, while in other cases it leads to an increase in imports.

Despite the volatility in the market, cereal producers continue to improve production technologies and increase yields to meet market demand.

In general, the situation on the world grain market remains uncertain, and its dynamics will depend on many factors in the near future. However, following the forecasts and analyzing the current market situation will help reduce risks and make effective decisions.