Miller Magazine Issue: 130 October 2020

48 MILLER / OCtOber 2020 IGC lowered the outlook for world total grains (wheat and coarse grains) production in 2020/21 by 3m t m/m to 2,227m, with a cut for maize partly offset by increases for barley and oats. With upward revisions for wheat, maize and barley, the projection for total grains trade in 2020/21 (Jul/ Jun) is boosted by 3m t m/m, to a record 398m. With data showing heavier than anticipated shipments in recent weeks, IGC’s figure for world soybean trade in 2019/20 is raised by 1m t, to a record of 164m. Global milled rice production in 2020/21 is projected to rebound from the prior year’s fractional decline, to a new peak of 504m t. Market outlook for world grains and oilseeds Amy Reynolds Peter Clubb Darren Cooper Nathan Kemp Agricultural Economist, IGC Market Analyst, IGC Senior Economist, IGC Senior Economist, IGC