Miller Magazine Issue 107 / November 2018

93 MILLER / NOVEMBER 2018 MARKET ANALYSIS London-based International Grains Council has released its monthly report. According to the report that contains the yearly statistics about grains production, consumption, trade and carryover stocks and which is updated according to the information obtained in October, a 9m t m/m (month-on- month) boost to the estimate for world total grains (wheat and coarse grains) production in 2018/19 and this is main- ly for wheat in China. Wheat output is also placed slightly higher than before in the EU, Russia and Algeria, but re- duced for Argentina and Australia. A larger projection for consumption absorbs some of this month’s increase in es- timated supply and the forecast for world grains stocks at the end of 2018/19 is raised m/m, though this is mainly in According to the last report of IGC, the estimations about the total world grains production is updated upward with an amount of 9 million tons. The difference mainly arises from the increase in Chinese wheat production. IGC: Change in Chinese wheat raises grain estimations