UPDATE 1-IGC trims global corn crop forecast, US estimate cut

Reuters

Jan 16, 2025

(Adds details, background)

LONDON, Jan 16 (Reuters) - The International Grains Council $(IGC)$ on Thursday cut its forecast for 2024/25 global corn production, largely reflecting a downward revision for the United States.

The inter-governmental body, in a monthly update, trimmed its global corn crop forecast by 6 million metric tons to 1.219 billion tons.

The U.S. corn crop was revised down to 377.6 million tons from 384.6 million seen previously, bringing it into line with the current U.S. government estimate.

The U.S. Department of Agriculture on Friday cut its forecast for the 2024 U.S. corn harvest to 377.6 million tons following a dry end to the nation's growing season.

The IGC kept its 2024/25 world wheat crop outlook at 796 million tons, with a downward revision for Russia (81.3 million from 81.8 million) offset by an upward adjustment for Australia (31.9 million from 31.3 million).

Wheat production in the 2025/26 season was seen tentatively rising to a record 805 million tons, up 1% year-on-year, based on information on sown areas and weather.

"With supply seen expanding only fractionally, projected gains in consumption could result in a further drawdown in end-season stocks," the IGC said.

(Reporting by Nigel Hunt. Editing by David Goodman and Mark Potter)

((nigel.hunt@thomsonreuters.com; +44 (0) 7990 561421; Reuters Messaging: nigel.hunt.thomsonreuters.com@reuters.net))

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Editing by David Goodman and Mark Potter)</p><p>((nigel.hunt@thomsonreuters.com; +44 (0) 7990 561421; Reuters Messaging: nigel.hunt.thomsonreuters.com@reuters.net))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4007","symbol_name":"制药","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2503199792","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2503199792","pubTimestamp":1737036578,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"(Adds details, background)      LONDON, Jan 16 (Reuters) - The International Grains Council (IGC) on Thursday cut its forecast for 2024/25 global corn production, largely reflecting a downward revisio","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4007":"制药","IGC":"IGC Pharma","BK4104":"贸易公司与经销商"},"translate_title":"更新1-IGC下调全球玉米作物预测，美国下调预估","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XCmain":0.9,"XWmain":0.9,"IGC":1,"ZWmain":0.9,"ZCmain":0.9},"content_text":"(Adds details, background)      LONDON, Jan 16 (Reuters) - The International Grains Council $(IGC)$ on Thursday cut its forecast for 2024/25 global corn production, largely reflecting a downward revision for the United States.   The inter-governmental body, in a monthly update, trimmed its global corn crop forecast by 6 million metric tons to 1.219 billion tons.   The U.S. corn crop was revised down to 377.6 million tons from 384.6 million seen previously, bringing it into line with the current U.S. government estimate.   The U.S. Department of Agriculture on Friday cut its forecast for the 2024 U.S. corn harvest to 377.6 million tons following a dry end to the nation's growing season.   The IGC kept its 2024/25 world wheat crop outlook at 796 million tons, with a downward revision for Russia (81.3 million from 81.8 million) offset by an upward adjustment for Australia (31.9 million from 31.3 million).   Wheat production in the 2025/26 season was seen tentatively rising to a record 805 million tons, up 1% year-on-year, based on information on sown areas and weather.   \"With supply seen expanding only fractionally, projected gains in consumption could result in a further drawdown in end-season stocks,\" the IGC said. (Reporting by Nigel Hunt. Editing by David Goodman and Mark Potter)((nigel.hunt@thomsonreuters.com; +44 (0) 7990 561421; Reuters Messaging: nigel.hunt.thomsonreuters.com@reuters.net))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}