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Tuesday, December 5, 2023

IGC raises corn crop forecast

LONDON: The International Grains Council (IGC) on Thursday raised its forecast for 2023/24 global corn production, boosted by an improved outlook for Ukraine’s crop.

The inter-governmental body, in a monthly update, raised its 2023/24 global corn crop forecast by 1 million metric tons to 1.222 billion tons, with Ukraine’s output seen at 28 million tons, up from a previous projection of 27 million.

The IGC also trimmed its 2023/24 world wheat crop outlook by 1 million metric tons to at 783 million, with downgrades for Australia (25.4 million tons from 27.9 million), Canada (29.8 million from 31.5 million) and Argentina (16.6 million from 17.5 million).

IGC raises corn crop forecast

Source: Brecorder

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