The higher demand for corn from China will push the volume of the global corn trade up by 7% in the current season, declared Denis Drechsler, Project Manager of Agricultural Market Information System (AMIS), FAO, within Grain&Maritime Days in Odessa-2021 on May 26.
The export of Ukrainian and Brazilian corn will reach the record high. At the same time, the world corn stocks can decline due to the active consumption, mainly in China.
The global wheat trade will remain stable high at 184.5 mln tonnes due to the expected growth of export from the EU and Black Sea region as well as the attractive wheat prices. Moreover, the expert pointed out the high competitiveness of wheat against corn that would raise the demand for feed wheat.
“Generally, the global grain production and export will reach the record high in 2020/21 MY. Particularly, the wheat crop will grow again to the record 778.8 mln tonnes in 2021/22 MY. The weather conditions in the key producing countries will be the main factor to watch in the next season”, - D.Drechsler said.
Moreover, the global soybean production and consumption restored in 2020/21 MY, mainly driven by China. The higher consumption and the active trade will cut the world carry-over stocks of soybean to the lowest in 7 years.