Commodities

IGC raises forecast for 2021/22 global corn crop

Credit: REUTERS/DANE RHYS

The International Grains Council (IGC) on Thursday raised its forecast for the 2021/22 global corn crop, predominately reflecting an improved outlook for the United States.

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LONDON, Oct 21 (Reuters) - The International Grains Council (IGC) on Thursday raised its forecast for the 2021/22 global corn crop, predominately reflecting an improved outlook for the United States.

In its monthly update, the inter-governmental body increased its 2021/22 world corn (maize) crop outlook by 1 million tonnes to 1.210 billion tonnes.

The IGC put the U.S. corn crop at 381.5 million tonnes, up from a previous projection of 380.3 million tonnes and in line with the U.S. Department of Agriculture's current forecast.

Global wheat production in the 2021/22 season was seen at 781 million tonnes, unchanged from last month's forecast, while the IGC also maintained its forecast for global soybean production in 2021/22 at 380 million tonnes.

(Reporting by Nigel Hunt; Editing by Edmund Blair)

((nigel.hunt@thomsonreuters.com; +44 (0) 7990 561421; Reuters Messaging: nigel.hunt.thomsonreuters.com@reuters.net))

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