Global #wheat production is forecast to edge higher in 2024/25, including potentially larger outturns in key southern #hemisphere producers. This includes #Brazil, where #yields are projected to recover sharply after last season's El Niño induced slump.

#Maize #stocks in 2024/25 are predicted to fall to a multi-year #low, albeit with cumulative #inventories in the four major exporters expected to expand y/y, buoyed mainly by an accumulation in the #US.

Brazilian #soybean #output in 2024/25 is forecast to expand to a new peak, owing to a predicted increase in planted #area. However, the scale of the y/y acreage gain could be contained by soft local and international values.

#World #rapeseed (#canola) #production in 2024/25 is set to contract, including smaller crops in #Australia, the #Black #Sea region and the #EU. In the latter, lower #yields in #France and #Germany were caused by an unfavourably wet growing season.

#India’s #rice #shipments in 2024 (Jan/Dec) are forecast to decline y/y amid ongoing export restrictions, with recent trade data showing smaller dispatches of white and 100% broken #rice to sub-Saharan #Africa. Nevertheless, the country will remain the world’s largest #exporter.

A sizable contraction in global #wheat trade is expected in 2024/25, led by reduced import needs in Asia, amid potentially moderating purchases by some importers after prior year's large arrivals and import restrictions in Turkey and Pakistan.

#Global #maize output could reach a fresh #peak in 2024/25. While excellent #yields are predicted in the #US, varied cropping outlooks across the #EU contribute to a cumulative y/y drop in forecast total #production prospects there.

Dry bulk #freight rates softened over the past month, but remained well above last year’s levels. Vessel earnings in the #Panamax sector were pressured by subdued activity in both Basins, including the recent slowdown in #grains/#oilseeds-related business out of South America.

2024/25 #sunflowerseed planted area in the US is seen contracting y/y, to a multi-decade low. This follows a longer term trend of switching acres to alternative #oilseeds such as #canola, amid rising domestic demand for canola #oil from the #renewable #diesel sector.

Amid expectations for record availabilities, #US #soybean #exports are likely to partially rebound in 2024/25 (Sep/Aug), albeit remaining below the recent average. However, a solid uptick in purchasing by #Chinese processors is required to reach predicted volumes.

Following the prior year's dip, global 2024/25 #oats #production is anticipated to rebound y/y, with #yields returning to broadly average levels. This includes gains in the #US, where the harvest is well underway.

World #barley #trade in 2024/25 (Jul/Jun, excluding #malt) is forecast to decline y/y owing to markedly softer purchasing from #China, albeit with Chinese #arrivals expected to remain well above the recent average.

Subscribe to the IGC’s monthly #GrainMarketReport for more details on the global supply and demand outlook for #grains #oilseeds #rice and #pulses at igc.int #wheat #maize #corn #soybean #barley #sorghum #oats #rye #rapeseed #canola #pulses #sunflowerseed

World #sorghum #consumption in 2024/25 is seen rising y/y amid an uptick in food use. However, uptake in the #feed sector is expected to be little changed as declines in #China and the #EU are countered by gains elsewhere, including for #Brazil.

#Australia’s #chickpeas (#pulses) #production in 2024/25 is predicted to be sharply higher y/y, owing to improved #yields and increased planted #area, as farmers are incentivised to boost #acreage by anticipated stronger #demand from #India.

#China’s #rice #imports, which are largely driven by the spread between local and international prices and the availability of 100% broken rice on #world markets, is projected to remain well below the recent average in 2024/25 (Jan/Dec).

2024/25 #barley #output across the #EU is expected to be heterogeneous. In #France and #Germany, the winter crop was adversely impacted by persistent rainfall and a lack of sunlight, while positive #yields were reported in #Spain.

#Global end-season inventories of #rapeseed (#canola) are projected to retreat in 2024/25, led by a drawdown in the major #exporters. This includes #Australia, where #stocks may register a further contraction to well below recent #peaks.

#World chickpeas (#pulses) #trade in 2024 (Jan/Dec) is projected to edge up y/y. #Indian purchases are set to increase following the temporary suspension of #import #duties, expected to stimulate demand for #Australian #supplies.

Tied to overly wet and cold weather in the #EU's largest producing country, #Germany, and smaller than anticipated sowings in #Russia, global #rye production is set to fall in 2024/25.