IGC raises forecast for 2021/22 global corn crop

The IGC also trimmed its forecast for global wheat production in the 2021/22 season by one million tonnes

  

LONDON- The International Grains Council (IGC) on Thursday raised its forecast for the 2021/22 global corn crop, predominately reflecting improved outlooks for the United States and Ukraine.

In its monthly update, the inter-governmental body increased its 2021/22 world corn (maize) crop outlook by 7 million tonnes to a record 1.209 billion tonnes.

The crop in the United States, the world's top corn producer, was seen at 380.3 million tonnes, up from a previous projection of 374.7 million but marginally below the U.S. Department of Agriculture's forecast of 380.9 million issued earlier this month. 

Ukraine's corn crop was forecast to total 38.5 million tonnes, up from a previous projection of 37.3 million.

The IGC also trimmed its forecast for global wheat production in the 2021/22 season by one million tonnes to 781 million, with downward revisions for the European Union and Canada partially offset by improved outlooks for Australia and Ukraine.

(Reporting by Nigel Hunt Editing by Mark Potter) ((nigel.hunt@thomsonreuters.com; +44 20 7542 8421; Reuters Messaging: nigel.hunt.thomsonreuters.com@reuters.net))


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