Global grain production has peaked

Dry bulk carriers can expect less grain transports next year. According to the International Grains Council the global has peaked for now.

International Grains Council (IGC) has published its forecasts for the next five grain seasons, and according to the international grain agency both production and prices will decrease in the near future. The decline will start from next season, and the global production of corn, wheat, and barley will go down compared to the current 2013-2014 season, which marks a record high.

Total production in 2014-2015 will reach 1,935 billion tonnes, compared to 1,94 billion tonnes in the current season. The corn harvest is expected to decline to 944 million tonnes next year, down from the current 948 million tonnes, says the International Grains Council in its latest five-year forecast, according to Bloomberg.

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