IGC Cuts Global Corn, Wheat Production Forecasts

The International Grains Council (IGC) cut its 2024 global corn production forecast 6 MMT from last month.

By Pro Farmer Editors

•

May 23, 2024 03:08 PM

In Mexico, corn is much more than a food crop—it's a key part of the country's heritage, culture and traditions. Mexico argues glyphosate and GMOs are dangerous to human health, and seeks alternative practices. — In Mexico, corn is much more than a food crop—it’s a key part of the country’s heritage, culture and traditions. Mexico argues glyphosate and GMOs are dangerous to human health, and seeks alternative practices.

The International Grains Council (IGC) cut its 2024 global corn production forecast 6 MMT from last month to 1.220 billion MT to reflect reductions mainly in Argentina and sub-Saharan Africa. The global corn crop is now forecast to decline 5 MMT (0.4%) from year-ago instead of its previous outlook for an increase.

IGC lowered its 2024 global wheat production forecast 3 MMT from last month to 795 MMT due to cuts for Russia, Ukraine and the U.S., though that would still be up 5 MMT (0.6%) from last year.

IGC’s global soybean crop projection was raised 1 MMT to 414 MMT, a 23-MMT (5.9%) increase from last year.

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