July 1, 2024

IGC increases global corn production forecast, adjusts wheat outlook

The International Grains Council (IGC) has revised its forecast for global corn production in the 2024/25 season, raising the estimate by 3 million metric tonnes to a total of 1.223 billion tonnes, Reuters reported.

In its monthly update, the inter-governmental body also adjusted its outlook for the world wheat crop for 2024/25, trimming the forecast by 2 million tonnes to 793 million tonnes.

In January, IGC raised its forecast for 2023/24 global corn production by 7 million metric tonnes to 1.230 billion tonnes, mainly driven by an upward revision for China.

-      Reuters