International Grains Council Outlook Update

Silos for storing grain harvest. Concept of agriculture and industry

Photo: Getty Images

The International Grains Council recently released their updated outlook for the 2022-2023 marketing year. You will find that they raised their outlooks for both the total global grain production and the forecast for ending stockpiles.

  • Wheat and coarse grain production are now forecast at 2.255 billion metric tons
    • Up from the May prediction of 2.251 billion
    • Ending stockpiles are forecast at 583 million metric tons
  • Wheat output is pegged at 769 million metric tons
    • Unchanged from a month ago
    • Inventories are projected at 273 million tons
      • Up from 271 million in May
  • Corn production is now expected to be 1.19 billion metric tons
    • Up from the previous prediction of 1.184 billion
    • Inventory forecast rose from 269 million tons last month to 271 million this month
  • The soybean production outlook rose to 390 million metric tons
    • Up from 387 million in the last forecast
    • Carryover stocks dropped from 58 million tons last month to 56 million in the new forecast. 

Sponsored Content

Sponsored Content