IGC Cut World Corn Crop 4 MMT

Posted by Nogger - a legend in his own mind at 14:22 | Categorized as

25/11/10 -- The International Grains Council have cut their global corn production estimate by 4 MMT this month to 810 MMT. That's now fully 8.5 MMT lower than the current USDA estimate of 818.5 MMT. Consumption is seen at a record 840 MMT, up 27 MMT on last season, with ending stocks pegged at 121 MMT - 31 MMT down on last season and also 8 MMT lower than the USDA estimate.

World wheat production was estimated at 644 MMT, unchanged from October's estimate and broadly in line with the USDA's figure of 642.9 MMT. Global wheat consumption was raised 2 MMT from last month to 660 MMT. World 2010/11 ending stocks are seen declining 16 MMT from last season to 180 MMT, that's 7.5 MMT more than the USDA project.

They don't let them have decimal places at the IGC. Or sharp things.