IGC: Grains production outlook rises again

It is the third straight month that the IGC has increased its production outlook. If realized, the IGC’s projected 98-million-tonne (4%) year-on-year increase in total grains production would be the sharpest since 2016-17. Wheat and corn are predicted to set production records in 2025-26, at 827 million and 1.297 billion tonnes, respectively. “With only part of the increased supply channeled for consumption, pegged 5 million tonnes higher than (last month), at 2.4 million tonnes, the projection for global ending stocks is raised 12 million tonnes, month on month, to a three-year high of 618 million tonnes,” the IGC said. Primarily because of an increase in wheat shipments, the outlook for total grains trade increased slightly from September to 440 million tonnes, the IGC said. The Council trimmed its soybean production forecast by 1 million tonnes over the previous month, to 428 million. It also dropped consumption by 1 million tonnes to 430 million. However, it boosted its trade ...