F.O. Licht’s Grains Production Update: US acreage and stock data put pressure on the global grain balanceThis article was originally published in The Public Ledger
New data on grain plantings, stocks and animal inventories in the United States confirmed the bearish trend on world markets. In addition, the production outlook for wheat in the EU may be better than expected one month ago. Our latest global balance for wheat, barley and corn includes a surplus of 25 mln tonnes for the current season. This is down on the multi-year high of 77 mln tonnes last season and also below 2009/10 and 2008/09.