The International Grains Council (IGC) cut its forecast for 2024-25 global corn production by 7 MMT to 1.226 billion MT, reflecting a lower outlook for the U.S. crop. However, global corn production is still expected to increase 3 MMT (0.2%) from last year.
IGC trimmed its 2024-25 global wheat crop outlook by 1 MMT from last month to 798 MMT, though that would still be up 9 MMT (1.1%) from last year.
IGC left its 2024-25 global soybean crop forecast at 413 MMT, which would be up 23 MMT (5.9%) from last year.
