IGC cuts global corn production estimate
The International Grains Council (IGC) has cut its forecast for global corn production for the 2020/21 season.
The estimate is down 10 million tons from last month, to 1.146 billion. Reductions in the U.S., Ukraine and EU crops account for most of the change.
The IGC also doubled its estimate of China’s corn imports for the 20/21 season from eight million to 16 million tons.