IGC raises forecast for 2015/16 world corn crop

Friday, 26 February 2016 00:00 - - {{hitsCtrl.values.hits}}

Reuters: The International Grains Council on Thursday raised its forecast for global corn production in 2015/16 by 10 million tons to 969 million, adding to grain stocks which are expected to be at the highest level in almost 30 years at the end of the season.

World wheat production in 2015/16 was seen at 732 million tons, up one million tons from last month’s estimate, the IGC said in a monthly update.

The IGC also forecast for global corn area for the 2016/17 crop would expand by 1% from the previous season.