World: Grain supply and demand balance unchanged since last month

World grain supply & demand balance has hardly changed since last month, H. M. Gauger GmbH said in their latest report published earlier in December.

The world grain production (as per IGC) is 2.08 bln tonnes, consumption 2.14, carry-over stocks 0.56, of which only 0.14 bln tonnes in the major exporter countries.

The stock change is 58 mln tonnes down year-on-year. The large difference between total and exporter stocks is the continued large stock-holding of China. Chinese statistics increased the combined grain production of the past ten years by 300 mln tonnes. The news hardly affected world markets, and are discounted further after China’s promise to purchase “a substantial amount of agricultural products from the U.S., in accordance with the needs of its domestic market“.

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