The International Grains Council raised its forecast for the world’s crop of corn in 2023–2024 from nine million tons to 1.217 billion tons, mostly due to improved production forecasts in China and Brazil. The intergovernmental organization lifted its prediction for Brazil’s corn crop from 127 million tons to 130.2 million tons, while China’s output rose to 279.4 million tons from 276.2 million. The global corn crop is currently expected to be substantially above the 1.153 billion tons from the previous season, but still slightly below the record 1.223 billion tons from 2021–2022. The IGC predicted that 2.294 billion tons of grain would be produced worldwide in 2023–24.
Sources: Reuters/Uniao Nacional da Bioenergia (*Translated by Ia Niani)