IGC raises forecasts for 2019/2020 world wheat, corn crops

LONDON: The International Grains Council (IGC) on Thursday nudged up its forecasts for world wheat and corn production in the 2019/2020 season.

The inter-governmental body, in a monthly update, increased its global wheat crop forecast by 3 million tonnes to 762 million tonnes, largely reflecting an improved outlook for production in Russia.

The council also increased its forecast for 2019/20 world corn (maize) production by 1 million tonnes to 1.125 billion tonnes.