IGC Raises 2012-13 Global Total Grains Carryover

February 21, 2013 03:27 AM
 

The International Grains Council (IGC) has raised its projection of 2012-13 total grains carryover from last month by 4 MMT to 326 MMT, although still 40 MMT lower than 2011-12. It projects total global wheat carryover up 2 MMT at 176 MMT (197 MMT last season) and total corn carryover up 1 MMT at 114 MMT (131 MMT last season). However, the group trimmed its global soybean carryover projection by 1 MMT to 28 MMT (23 MMT last season).

In its initial look at the 2013-14 season, IGC say it expects global wheat production to up be 4% from the current marketing year, but much of the increase is expected to be absorbed by an increase in demand to result in just a 2 MMT increase in carryover.


 

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