IGC cuts forecast for 2019/2020 world corn production  

LONDON: The International Grains Council (IGC) cut its forecast on Thursday for world corn production in the 2019/2020 season reflecting a difficult start to the growing season in the United States.

The inter-governmental body cut its global corn (maize) crop forecast in its in a monthly update by 23 million tonnes to 1.095 billion tonnes with a diminished outlook for US production following planting delays partially offset by improved prospects in Ukraine and the European Union.

The council increased its forecast for 2019/20 world wheat production by 3 million tonnes to 769 million tonnes.