IGC report – July 2021

Yesterday, the IGC published the July report on the state of the world's grain balance in 2021/22. Key takeaways:

Grain - The world's total grain production in 2021/22 will reach 2.295 million tons (2.301 in the June estimate and 2.213 in 2019/20). World's grain consumption is projected to reach 2.295 million tons (2,299 and 2,236) and world's ending grain stocks are estimated at 130 million tons (134 and 133).

- Wheat - The world's wheat production will reach 788 million tons (789 and 773), world's total wheat consumption is estimated at 787 million tons (787 and 770) and ending wheat stocks is expected at 280 million tons (283 and 279). Stocks held by the eight largest exporters are projected at 57 million tons (60 and 62 and 64 and 69).

- Corn - The world's corn production will reach 1.202 million tons (1,201 and 1,128), world's corn consumption is predicted at 1,199 million tons (1,201 and 1,158) and ending corn stocks are estimated at 270 million tons (267 and 268). Stocks held by the four largest exporters will reach 44 million tons (43 and 39 and 63 and 71).

- Soybeans - The world's soybean production is expected to reach 382 million tons (383 and 363), world's total soybean consumption are expected at 378 million tons (378 and 365), ending soybean stocks are projected at 54 million tons (53 and 49). Soybean stocks held by the three largest exporters will reach 14 million tons (12 and 13).