IGC raised forecast for the global corn harvest

The International Grains Council (IGC) has increased its forecast for the global corn production due to improved crop conditions in China on Thursday. The expectations of the global wheat harvest has been reduced, however, due to adverse weather conditions in Canada.
In 2015/16 on 1,970 billion tons, the Council estimated the overall grain production. Therefore, the value is although 4 million tons over the previous estimate, but still 43 million tonnes in the previous year.
Adverse weather conditions have reduced the crop prospects in some regions, especially the EU and Canada. But this was offset by higher yields elsewhere. Mainly by maize in China and sorghum in the United States.
The global corn production is located in 2015/16, with an expectancy of 966 million tons over the last estimate, but below the record from the previous year.
Wheat production is expected to lower with 710 million tons than in the previous year, as a result of 721 million tonnes.

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