By FWi staff

REDUCTIONS in estimates for US maize and barley in the EU have lowered predictions for world coarse grains by 3 million tonnes, to 888m tonnes.

World trade remains unchanged at 90m tonnes, although shipments of maize from Argentina are forecast lower than before.

Shipments from smaller exporters could be higher, which would counteract this, said the International Grains Council.

World consumption is expected to be lower at 884m tonnes, while increases are forecast in many regions.

The one major exception is Russia, which had a poor barley harvest, and a number of countries in Far East Asia that are experiencing economic hardship.

The IGC predicts world stocks down 1m tonnes at 141m.

World estimates – coarse grain
  95-96 96-97 97-98 98-99 (forecast as at 23/11/98) 98-99 (forecast as at 20/01/99)
Production 801 914 897 891 888
Trade 92 92 89 90 90
Consumption 831 883 885 885 884
Stocks 91 124 136 142 141