IGC Modestly Revises Global Crop Production Forecasts
The International Grains Council (IGC) raised its forecast for 2023-24 global corn production by 1 MMT to 1.222 billion MT, boosted by an improved outlook for Ukraine’s crop. IGC now expects global corn production to increase 60 MMT (5.2%) from 2022-23.
IGC trimmed its 2023-24 world wheat crop outlook by 1 MMT to 783 MMT, with downgrades for Australia, Canada and Argentina more than offsetting increases for Russia and Ukraine. Global wheat production is now expected to fall 22 MMT (2.7%) from 2022-23.
IGC cut its 2023-24 global soybean production forecast by 2 MMT to 396 MMT, which would still be up 29 MMT (7.9%) from last year.
Read also
Crop & Price Navigator 2026/27: Black Sea and Danube. Forecast
US explores Africa as a potential new market for soy exports
Corn remains to be harvested in Ukraine from 22% of the area
AD Ports Group and Louis Dreyfus Company have agreed to establish a grain terminal...
Ukraine called on PACE to strengthen international mechanisms to protect food secu...
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon