Global grain utilization in MY 2017/18 is set at 2.6 BT

The forecast of global grain utilization in MY 2017/18 is set at 2.59 billion tons, which is 1.3% higher compared to MY 2016/17.

It is noted that the total feed utilization of grain will grow by 0.4% to 1.35 billion tons. While industrial utilization is projected to rise by 1.2 percent.

"Based on the latest forecasts for grain production and utilization, world grain stocks by the close of seasons in 2018 are set to reach a new record level. This would result in the global grain stock-to-use ratio remaining stable at a 15-year high of 27 percent, with the ratio for wheat up slightly (258.2 MT) and those for coarse grains down marginally (291.3 MT)," the message says.

Earlier it was reported that forecasts for global grain production in MY 2017/18 will slightly exceed the peak value of MY 2016/17. The forecast for global grain production in MY 2017/18 amounted to 2.613 BT (the previous forecast was 2.612 BT), which is 5.8 MT higher than MY 2016/17.