The International Grains Council (IGC) raised its forecast of global grain output for 2023-24 to 2.295 billion tons, up 3 million tons from the previous month. This is a growth of 2.3% over the previous season. The revision includes a brighter outlook for corn production, due to better-than-expected yield reports in the United States, as well as updates for wheat crops in Ukraine, Russia, and Turkey. World grain consumption climbed, as did carryover stocks, reflecting an optimistic global backdrop for grain supply and demand.
Source: Globo Rural (*Translated by Ia Niani)
IGC ESTIMATES 2.3% INCREASE IN GLOBAL GRAIN OUTPUT IN 2023-24
Published On - 8 de February de 2024