The International Grain Council (IGC) has raised its projection for 2013-14 global corn carryover by 7 MMT from last month to 143 MMT (117 MMT in 2012-13). The group trimmed its 2013-14 global wheat carryover projection by 1 MMT to 181 MMT (179 MMT 2012-13). Meanwhile, IGC pegs 2013-14 global soybean carryover at 25 MMT, down 1 MMT from last month, but 2 MMT higher than the current marketing year.
IGC's first 2013-14 total grains carryover projection of 361 MMT is up 31 MMT from 2012-13. IGC forecasts world use of total grains at 1,817 MMT, up 58 MMT from last season.