The International Grains Council (IGC) recently forecast global grain production would climb to a record 2.287 billion tonnes in the 2021-22 season, but expects the larger supply to be entirely absorbed by higher consumption.
In its first full assessment for the 2021-22 season, the intergovernmental body projected a balanced market, with stocks at the end of the period seen at 609 million tonnes, unchanged from a year earlier.
The IGC forecast that global wheat production would rise to 790 million tonnes, up from the prior season’s 774 million with larger crops expected in several countries including exporters France (37.3 million versus 30.4 million tonnes) and Argentina (20.3 million versus 17.2 million).
