date:Jan 25, 2016
igher its estimate for stocks of grains comprising wheat and coarse grains at the close of 2015-16 by 1m tonnes to a 29-year high of 454m tonnes, despite a trim of 4m tonnes to 1.992bn tonnes in its production forecast.
The reduced output figure reflected expectations of poorer [corn] harvests in South Africa and India, where dryness has hurt prospects, although estimates for world barley and wheat output were increased.
Large stocks of grains carried in to 2015-16 are seen keeping total sup