World grain stockpiles at the end of the 2024-25 season are now seen at 580m tons, down from an April estimate of 592 million tons, the International Grains Council said in a report. It lowered its Russian wheat crop outlook.
- The forecast for global ending stockpiles compares with a level of 588m tons for the 2023-24 season
- The production estimate was lowered on smaller corn output in Argentina and sub-Saharan Africa and lower wheat production in Russia, Ukraine and the US
- Russian wheat output now seen at 85.5m tons in 2024-25, down from a previous estimate of 90.4m tons
- Still, the global wheat stockpile estimate was little changed, as was rice
- Corn stockpiles estimate was lowered to 281m tons from 291m tons, and the production outlook was also cut
- Soybean stockpile projection was raised to 78m tons, from 75m tons