Commodities Buzz: IGC cuts global grains production outlook marginally
Mumbai, July 20 -- International Grains Council or IGC stated in a latest monthly update that prospects for the 2026/27 maize harvest have been adversely affected by successive heatwaves in parts of Europe. With otherwise few changes, total grains production is forecast 5 million (m) tonne (t) lower m/m (month-on-month), at 2,422m. The reduced crop outlook has prompted a modest downward revision to the Council's use projection, placed 1m t down from previously, at 2,447m, still a record. Also factoring in a smaller carry-in, total supplies are forecast tighter, with carryover stocks (aggregate of respective local marketing years) placed 8m t lower than previously, at 610m. Sizeable availabilities should support grain shipments from the majo...
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