IGC releases first forecast for global wheat and corn harvest in MY 2026/27

The International Grains Council (IGC) has released its first forecast for world wheat and maize production in 2026/27.

According to the IGC’s preliminary assessment, the initial forecast for global wheat supply and demand looks somewhat tighter in 2026/27, with a reduced harvest and further growth in consumption expected.

Maize production is also initially expected to decline next season, assuming yields remain at the multi-year trend level and current assumptions for the area sown.

At the same time, the IGC has lowered its forecast for world grain production in 2025/26 after a series of upward revisions in recent months. The estimate has been revised down by 1 million tonnes to 2.46 billion tonnes, which would still be a record if achieved.

The reduction is mainly due to a revised estimate of the barley crop, while changes in other crops were minor. The IGC’s forecasts for wheat and maize production in 2025/26 remain unchanged at 842 million tonnes and 1.313 billion tonnes, respectively.

Grain carrying stocks in 2025/26 are expected to fall slightly to 631 million tonnes, still the highest level since 2017/18.

The IGC also lowered its soybean production forecast by 1 million tonnes to 428 million tonnes, slightly below last year’s record harvest of 429 million tonnes. Due to a slight decrease in expected consumption, soybean carrying stocks increased by 2 million tonnes on a monthly basis, although they are still declining on an annual basis.

https://ukragroconsult.com