The International Grains Council (IGC) on this morning raised its forecast for the 2021/22 global corn crop, mainly due to an improved outlook for the United States production.
In fact, in its monthly update, the inter-governmental body increased its 2021/22 world corn crop outlook by 1 million tonnes to 1.210 billion tonnes.
Particularly, the IGC put the U.S. corn crop at 381.5 million tonnes, up from a previous projection of 380.3 million tonnes.
That is in line with the USDA’s current forecast.
The IGC, meantime, maintained unchanged its forecast for global soybean production in 2021/22 at 380 million tonnes.
Ditto for global wheat production that, in the 2021/22 season, was seen at 781 million tonnes, unchanged from last month’s forecast.

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