March 30, 2007

 

IGC: World 2007/08 corn crop seen up 6 percent at record 733 million tonnes

 

 

The world is set to harvest a record 733 million tonnes of corn in 2007/08, a jump of 6 percent on the year, according to estimates issued by the International Grains Council (IGC) Thursday (Mar 29).

 

The agency said there is to be a marked increase in sowings on the year, particularly in the US.

 

IGC said with trend yields the US crop could rise by nearly 40 million tonnes from the IGC's current 2006/07 estimate of 267.6 million tonnes.

 

The agency said corn output would also likely rise in the European Union, but may fall in Latin America after a large crop in 2006/07.