News

Grain Council lowers global corn production estimate

Maize (Corn)
United States
Published Apr 23, 2024

Tridge summary

The International Grains Council (IGC) has adjusted its global corn harvest forecast for the 2024-25 agricultural year, decreasing the estimate by seven million tons to 1.226 billion, due to sprout diseases and drought effects, particularly in the Southern Hemisphere. Despite this reduction, the new forecast still sets a record high, surpassing the previous year's output by two percent. The largest cut in forecast was for the United States, primarily because of drought conditions, while the EU, China, and South Africa saw their estimates increased. Moreover, global crop exports are anticipated to fall by two million tons to 176.9 million, and grain inventories are expected to be lower than earlier projections, yet still above the levels of the 2022-2023 season.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Analysts of the International Grains Council (IGC, IGC) in their March report reduced the forecast for the world corn harvest in the 2024-25 agricultural year (starts in different countries from the day of sowing of a particular crop, which depends on the agroclimatic situation in these countries - ROSNG). The estimate was reduced by seven million tons or 1.226 billion. The reason was an increase in cases of disease in the sprouts of this crop and the negative consequences for it from the drought, which has been observed in recent weeks in all production areas of the so-called Southern Hemisphere. At the same time, it is noted that the above figure still remains a record and exceeds the previous maximum value, which was observed last year, by two percent. Thus, in exact figures, the world crop harvest at that time was 1 billion 201 million 480 thousand tons. Most noticeably, the forecast for crop harvest in the United States was reduced - by eight million tons, from 382 to 374 ...
Source: Rosng
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