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Global Corn Production Forecast Lowered | World Grain

The International Grains Council (IGC) has revised its 2024-25 global corn production forecast lower by 7 million tonnes due to rising disease and drought stress in the Southern Hemisphere, as reported by World Grain.

Despite the reduction, the projected corn output of 1.226 billion tonnes would still be a record, surpassing last year's high by 2%. The IGC attributes the lower corn forecast to a smaller carry-in and a decline in US corn production.

The outlook for total grain production has also been adjusted downward by 10 million tonnes to 2.322 billion tonnes. However, this projection remains a record and is driven by a strong soybean crop, which is expected to set new highs in production, consumption, trade, and carryover stocks, as noted by World Grain.

The IGC projects a decline in world trade for total grains, primarily due to reduced wheat and corn flows. It also forecasts a slight increase in carryover stocks, breaking an eight-year downward trend.