The world grain crop in 2019-2020 should be slightly larger than previously expected.

In particular, as shown by a recent report by the International Grain Council (IGC), there are currently 1,100 billion tons of corn worldwide; although the volume of the previous year will still be exceeded by about 29 million tons.

By the end of July, London experts had estimated only 1.092 billion. As the most important reason for a more optimistic estimate, the Grain Council names the best harvest prospects in the United States of America.

In connection with the international wheat harvest in 2019/20, IGC raised its forecast by 1 million tons to a record volume of 764 million. This is justified by the surprisingly large amount of winter wheat in the United States of America, Ukraine and some countries of the European Union.

Recall that last year, farmers around the world threshed 733 million tons of wheat. Currently, the grain harvest in the world is 2.159 billion tons, which is 17 million tons more than in the previous year.

Nevertheless, according to IGC, an increase in surplus of $ 27 million is expected. Accordingly, at the end of the current season, stocks will drop to 598 million tons of grain on an annualized basis.