Total world trade of wheat and maize in the next 12 months is forecast to reach a three-year high of 244m tones, an improvement of 2m tones on 2010-2011 volumes, which should provide greater demand for bulk carriers over the next 12 months.
China and Mexico will see the biggest overall increases in imports, according to the International Grains Council in its latest monthly report.
The pick-up in trade will be boosted by improved wheat production volumes, which will push total world grain production to a record level of 1.8bn tonnes in the 2011-2012 agricultural year.
According to an IGC reporter Due largely to increased imports of lower quality cargoes forecast for the European Union, wheat shipments will likely rise the most, to 127m tonnes.
"As EU imports of maize are forecast to be reduced by almost as much, global shipments of this grain are projected to increase only slightly, to 94m tones. This is despite significantly higher purchases by China, triggered when domestic prices in the country's south move above international landed values."
In the wheat sector, the council has increased its production forecast in the coming agricultural year to 67m tones, not far off the 679m tones produced in the 2009-2010 season.
At the end of June, the IGC had forecast wheat production of just 666m tones which was up only 15m tones on the 651m tones estimated to have been produced in the 2010-2011 grain season.
Combined with maize/corn, total friars production should reach a record 1.8bn tonnes over the next 12 months, which represents a 4% rise on the 1.7bn tonnes produced last year.
Wheat yield prospects in particular improved in the past months, with some key areas n the EU and Russia receiving beneficial rains.
In the rice sector, global trade in the calendar year 2012 is forecast to expand 2% to 32m tones, with most regions expected to increase their imports.
However, the largest expansion will be in Asian purchases, notably the Philippines, the IGC report said.