IGC cuts global corn harvest estimate to 24/25 after reduction in the US

SÃO PAULO (Reuters) - The International Grains Council (IGC) on Thursday reduced its outlook for global corn production in 2024/25, reflecting a lower forecast for the United States harvest. The intergovernmental body, in its monthly update, reduced its forecast for the global corn harvest by 7 million metric tons, to 1.226 billion tons, still slightly above the previous year (1.223 billion tons). The 2024/25 US corn harvest was revised down to 374 million tonnes, down from the 382 million previously seen, while China's corn production was seen at 293 million, up from the previous projection of 291 million. The IGC also cut its 2024/25 world wheat harvest outlook by 1 million tonnes to 798 million tonnes, although the projection was still above the previous season's 789 million. "The grain supply outlook for 2024/25 is slightly tighter compared to initial ...