Miller Magazine Issue 108 / December 2018

91 MILLER / DECEMBER 2018 MARKET ANALYSIS London-based International Grain Council’s (IGC) No- vember report is released. According to the report, there will be a decrease in the total amount of the grain produced. The expected increase in maize yield will not be enough to offset the decreases in almost all other grains. The producti- on of all grains including wheat (-39 million tons) and maize (-6 million tons) is expected to decrease and the total pro- duction is predicted at 2 billion 79 million tons, a three-year low. Correspondingly, grain stock in 2018-2019 will remain at a four-year low of 560 million tons. According to the monthly report released by the International Grain Council (IGC), due to the expected contraction in the production of almost all grains except for the maize, total wheat production is fore- cast to decrease to a three-year low at 2 billion 79 million tons. IGC REPORT: A CONTRACTION EXPECTED IN HARVEST OF ALL GRAINS BUT MAIZE