IGC Trims Forecast For 2022/23 World Corn Crop By 1m Tonnes

By Donna Ahern
IGC Trims Forecast For 2022/23 World Corn Crop By 1m Tonnes

The International Grains Council (IGC) on Thursday trimmed its forecast for 2022/23 global corn output, largely driven by drought stress in the European Union.

In its monthly update, the inter-governmental body reduced its 2022/23 world corn (maize) crop outlook by 1 million tonnes to 1.189 billion tonnes, well below the previous season's 1.220 billion tonnes.

The EU's corn crop was seen at 76.5 million tonnes, versus a previous forecast of 78.2 million.

Second Heatwave 

A second heatwave in a month is gripping parts of western Europe, worsening drought and fuelling wildfires in Spain, Portugal and France.

ADVERTISEMENT

The hot weather also risks prolonging a dire drought in Italy that led authorities to declare an emergency along the river Po that nurtures a third of the country's farm production.

The IGC's forecast for wheat production in the 2022/23 season was raised slightly, by 1 million tonnes to 770 million tonnes.

Read More: US Wheat Falls To Pre-Ukraine War Levels; Corn, Soy Also Drop

News by Reuters, edited by Donna Ahern, Checkout. For more Supply Chain stories, click here. Click subscribe to sign up for the Checkout print edition.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.