The International Grains Council (IGC) raised its 2021-22 total grain production (wheat and coarse grains) by 3 MMT from last month, primarily due to an increase in Brazil’s corn production forecast. Corn carryout stocks were cut by 1 MMT for 2021-22. The group reduced 2021-22 world soybean production by 1 MMT, cut consumption by 2 MMT and increased carryout stocks by 2 MMT from its March report. Wheat trade for 2021-22 was cut by 1 MMT and carryout stocks were increased by that amount. Wheat production and consumption were unchanged from the March report.
Global total grain estimate raised on increased Brazil corn production…
