(Dow Jones) -- The International Grains Council Friday said grain stocks will remain near a three-decade high next year.
Global grain stocks will rise by 18 million metric tons to 466 million tons in 2015-16, the most in 29 years, and are likely to stay at that level the following year, London-based IGC said.
The IGC expects production to fall slightly next year. It predicted production of 2 billion tons, down from 2.01 billion tons in the current year, with a larger corn harvest to be offset by declines in wheat, barley and sorghum.
But the amount of grain to be carried over into 2016-17 after going unused this year will ensure that overall availability is little changed.
"Preliminary projections for 2016-17 point to another season of ample global grains," the IGC said.
The IGC sees corn production rising to 993 million tons in 2016-17 from 972 million tons this year; wheat production falling from 734 million tons to 713 million tons; rice production rising to 485 million tons from 473 million tons; and soybean output little changed at 320 million tons, compared with 323 million tons in the current year.
It said global trade volumes are likely to decline to 314 million tons in 2016-17 from 321 million tons this year.
"In part this reflects a likely further slowing of demand for barley and sorghum in China stemming from planned domestic policy changes," the IGC said.