WORLD GRAIN STOCKS FALL TO 57 DAYS OF CONSUMPTION

Grain Prices Starting to Rise

Lester R. Brown

This year’s world grain harvest is projected to fall short of consumption
by 61 million tons, marking the sixth time in the last seven years that
production has failed to satisfy demand. As a result of these shortfalls,
world carryover stocks at the end of this crop year are projected to drop
to 57 days of consumption, the shortest buffer since the 56-day-low in
1972 that triggered a doubling of grain prices.