By FWi Staff
WORLD production of coarse grains is now estimated 2 million tonnes lower at 903m tonnes, the same as in 1997, reported the International Grains Council today (Wednesday).
Reduced output figures for Romania, Yugoslavia, Russia, Ukraine and Mexico are offset by increases for the EU and the United States.
Some countries took advantage of recent low prices to buy feed grains, but overall trade forecasts show little change. The total coarse grains trade is expected to recover by about 1m to 90m tonnes.
The IGC reported a number of minor revisions for various countries take the world consumption 1m higher to 896m tonnes. World stocks are unlikely to increase as much as projected earlier, because of the reduction in world output and the small increase in forecast use.
Nevertheless, it is expected that they should rise by 6m to 143m tonnes. Of this, almost 54m tonnes will be held in the US and 14m in the EU.