IGC Grain Trade Forecasts for 2017/18
The International Grains Council (IGC) has published its first comprehensive forecasts for global grain and soya trade in 2017/18. World wheat trade is expected to fall slightly to 166.5 Mt in 2017/18 (Jul-Jun) on lower shipments from Australia and the Ukraine, while weaker exports from the US will mean global corn exports decline to 136.6 Mt. Although, this obscures a rebound in Brazilian corn shipments which, after a very weak 2016/17 when they are expected to total just 14.8 Mt, are forecast to climb to 25.2 Mt in 2017/18. By contrast, world soya trade (beans & meal) is forecast to rise strongly to 210.7 Mt in 2017/18 (Oct-Sep) on higher exports from all major exporters.