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.
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
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