IGC 2020/21 Soyabean, Corn and Wheat Trade Forecasts

Grain

The International Grains Council (IGC) has lifted its forecast for 2020/21 (Oct/Sep) global soyabean trade to a record 165.3 Mt (+1.0 Mt from the previous month’s report). Chinese imports are forecast at a record 98.8 Mt, although annual growth in the upcoming year is expected to slow to 1% after climbing 11% in 2019/20 as demand rose sharply on the back of a recovery in pig herd numbers. US exports are expected to rise to a four year high of 57.3 Mt (+11.3 Mt on the year). Brazilian shipments were shifted slightly higher to 83.2 Mt, but are still expected to drop from a peak of 92.0 Mt in 2019/20.

Global corn trade is expected to climb to a record 178.0 Mt in 2020/21 (Jul/Jun), while global wheat trade was revised slightly higher to 182.9 Mt in 2020/21 (Jul/Jun).