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Global Grain Hoard Getting Bigger as Less Being Fed to Animals

  • Grain stocks to rise 1.9% to highest in 29 years, IGC says
  • Global wheat harvest may decline 3% in the 2016-17 season

Slowing demand for animal feed this season will leave the world with a bigger hoard of grains than previously thought, the International Grains Council said.

While production from bumper harvests will be slightly less than predicted in November, carryover stockpiles of grains excluding rice will increase 1.9 percent to 455 million metric tons in 2015-16, the highest in almost three decades. That’s 1 million tons more than the previous forecast, London-based group said in a report Thursday.