17 September, 2020

World: New record grain crop predicted for this year

The IGC predicts a new record crop and a very comfortable supply situation in the world, H. M. Gauger GmbH reported earlier this month.

Larger wheat crops in Australia, Canada and Russia compensate for bad losses in France and Great Britain, smaller crops in North Africa and Ukraine.

The corn production is predicted larger in the U.S., the barley crop larger in Australia. This outlook is not shared by the grain trade. There is a feeling that markets are in the first phase of a demand-driven bull trend. Final corn crop results may be lower after drought conditions, storm and flood damages in the U.S., southern Russia, Ukraine, and China.

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