Overall

The IGC trimmed world grain production for 2025/26 by one million tonnes at 2.46 billion.

• Total supply was cut by 3.60 million tonnes at nearly 3.05 billion.
• Total feed, industrial and feed use was lowered by one million tonnes to just short of 2.42 billion.
• Ending stocks dropped by 2.70 million tonnes at 631.10 million.

Soybeans

The IGC raised its global soybean production call for 2025/26 by 1.30 million tonnes from January, now at 428.20 million.

• Total supply was bumped up 1.40 million tonnes at 510 million.
• There was an increase to Brazilian production with two million tonnes added to its crop at 179 million. That was partly offset by an 800,000-tonne reduction to Argentina’s harvest at 47 million.
• A 900,000-tonne cut to total use brought it to 430.80 million tonnes.
• The world soybean carryover was raised 2.30 million tonnes at 79.20 million.

Wheat

For world wheat, 300,000 tonnes were shaved off of output at 841.70 million for 2025/26, as the IGC took that amount off from its call on the European Union harvest at 143.40 million.

• Total global supplies were lowered by 1.10 million tonnes at almost 1.11 billion.
• Total use was trimmed 300,000 tonnes at 822.80 million.
• Ending stocks came down 900,000 tonnes at 282.40 million.

Corn

For global corn production, the IGC upped tacked on 500,000 tonnes at 1.31 billion.

• Total supplies were raised by 700,000 tonnes at 1.60 billion.
• Total use was increased by 800,000 tonnes at nearly 1.30 billion.
• The world carryover remained at 304.80 million.

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“The larger global harvest will more than compensate for the tightest opening stocks in ten seasons, boosting overall supply by three per cent, to an all-time peak,” the IGC said.

The inter-governmental body raised its forecast for global grains production in 2025/26 by 5 million metric tons to 2.43 billion tons, outstripping consumption, which was projected at 2.40 billion.

Global stocks of grain at the end of the 2025/26 season were seen at a three-year high of 619 million tons, up from 589 million a year earlier.

The IGC raised its forecast for 2025/26 global wheat production by 3 million tons to 830 million, partly driven by improved crop outlooks in Kazakhstan and Argentina.

Kazakhstan’s wheat crop was revised higher to 19.1 million tons, up from a previous projection of 17.6 million.

Earlier this month, Kazakhstan’s Agriculture Minister Aidarbek Saparov said the country had harvested a record-high grain crop which included 20.3 million tons of wheat.

Argentina’s wheat crop was seen at 23.5 million tons, up from a previous projection of 22.2 million and well above the prior season’s 18.5 million.

The IGC also increased its 2025/26 world corn (maize) crop outlook by a marginal 1 million tons to 1.298 billion tons.

Global soybean production in 2025/26 was trimmed to 426 million tons, down from a previous forecast of 428 million and the prior season’s 429 million.

The IGC noted that soybean production was still expected to be the second largest on record.

“With (soybean) consumption seen at a new peak on gains in Asia and the Americas in particular, inventories could tighten,” the IGC said.

— Reporting by Nigel Hunt

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The intergovernmental body, in a monthly update, forecast the global corn crop at 1.276 billion tonnes, sharply above the previous season’s 1.228 billion but broadly in line with consumption which was seen at 1.272 billion.

U.S. corn production was upwardly revised to 398.9 million tonnes from 397.4 million seen previously, while the outlook was cut for Hungary, to 4.8 million from 5.9 million, and for Romania, to 7.7 million from 8.5 million.

The IGC also kept its 2025/26 world wheat crop outlook at 808 million tonnes, a modest increase on the prior season’s 800 million but still slightly below projected consumption of 814 million tonnes.

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The inter-governmental body, in a monthly update, increased its forecast by 2 million metric tons to 808 million.

India’s wheat crop was projected to climb to 117.5 million tons, up from a previous forecast of 115.1 million and the prior season’s 113.3 million.

The projection is in line with a forecast issued by India’s government in late May.

Romania’s wheat crop forecast was increased to 12.5 million tons, up from last month’s projection of 11.5 million and well above last season’s 10.1 million.

Agricultural consultancy Sovecon said on Wednesday it had slightly raised its forecast for Russian wheat production for 2025 by 0.2 million metric tons to 83.0 million metric tons, citing improved crop conditions in parts of central Russia.

The IGC also trimmed its forecast for 2025/26 global corn production by 1 million tons to 1.276 billion tons, with Ukraine’s crop downgraded to 28.6 million tons from a previous forecast of 30 million.

The body’s forecast for global soybean production was kept at 428 million tons, up from last season’s 423 million.

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The inter-governmental body, in a monthly update, increased its forecast for global corn production by 3 million metric tons to 1.277 billion tons.

Brazil’s corn production was projected at 131 million tons, up from a previous forecast of 130 million.

IGC maintained its 2025/26 wheat crop outlook at 806 million tons with an upward revision for the United States (52.3 million from 50.7 million) offset by cuts for Iran (13 million from 14.5 million) and Turkey (20.4 million from 21.2 million).

“Prospects for the next grain harvest remain broadly favourable, although an unusually dry winter and early spring has reduced yield potential in parts of Near East Asia,” the report said.

— Reporting by Nigel Hunt

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The inter-governmental body in a monthly report said it now sees global corn output at 1.274 billion tons, an increase of 5 million tons from a month ago.

U.S. corn output was raised by 3.2 million tons to 397.4 million tons, while output in sub-Saharan Africa was increased by 2.2 million tons to 89.6 million.

The IGC also trimmed its 2025/26 world wheat crop outlook by 1 million tons to 806 million, mostly thanks to declines in the United States.

— Reporting by May Angel

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The inter-governmental body, in a monthly update, reduced its 2024/25 corn production forecast by 3 million metric tons to 1.216 billion tons.

The forecast, however, remained slightly higher than the U.S. Department of Agriculture’s current projection of 1.212 billion.

The IGC said the revision was driven by worsening crop prospects in South America with Brazil’s corn crop now seen at 123.3 million tons, down from 124.6 million seen previously, and Argentina’s corn crop cut by 1 million tons to 53 million.

Global soybean production in 2024/25 was downwardly revised to 418 million tons, from 420 million seen previously, reflecting reduced expectations for Argentina and Paraguay.

The outlook for the 2024/25 wheat harvest was raised by 1 million tons to 797 million tons with the crop in Kazakhstan now seen at 18.6 million tons, up from 18.0 million seen previously.

— Reporting by Nigel Hunt

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The inter-governmental body, in its monthly update, cut its 2024/25 wheat crop outlook by 2 million metric tons to 796 million tons.

EU wheat production was revised down to 120.3 million tons, down from a previous forecast of 121.8 million and sharply below the prior season’s 133.1 million.

The EU harvest has been hit in particular by the smallest crop in France in 40 years, as well as a sharp fall in German production as the bloc’s two biggest wheat growers endured repeated heavy rain in the past year.

The IGC also raised marginally its 2024/25 world corn crop outlook by 1 million tons to 1.225 billion tons.

African corn production was seen at 91 million, up from a previous forecast of 86.8 million but still below the prior season’s 93.8 million.

The impact was partially offset by a slight cut in the U.S. corn crop forecast to 384.6 million tons from 386.2 million.

Global soybean production in 2024/25 was cut by 2 million tons to 419 million, largely reflecting a reduced U.S. crop estimate, although it remained well above the prior season’s 396 million.

— Reporting by Nigel Hunt

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The IGC expects world wheat production to hit 798.8 million tonnes in 2024/25, which compares with 789.5 million tonnes in the current marketing year. Of that total, the IGC forecasts Canadian wheat production at 38.3 million tonnes, which compares with the IGC’s call for 2023/24 Canadian wheat production of 36.1 million tonnes.

World wheat ending stocks are forecast to tighten to 262.2 million tonnes, from an expected 267.5 million tonnes in 2023/24.

World corn production is forecast at 1.233 billion tonnes, which compares with 1.227 billion expected in 2023/24. The IGC lowered its corn production estimate for the current marketing year by seven million tonnes from the February forecast due to declining prospects out of South America. The IGC forecast world corn ending stocks to rise to 296.9 million tonnes by the end of the 2024/25 marketing year, from 293.9 million tonnes in 2023/24.

The IGC forecast world soybean production in 2024/25 at 412.8 million tonnes, which compares with 390.5 million tonnes for the current crop year. World soybean ending stocks are forecast to rise to 172.1 million tonnes in 2024/25, which compares with an anticipated 165.9 million tonnes for the current crop year.

— Phil Franz-Warkentin is an associate editor/analyst with MarketsFarm in Winnipeg. 

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 Total world wheat production in 2023/24 was pegged at 787 million tonnes by the IGC, which would be up by two million from the October estimate but still below the 804 million tonnes grown in 2022/23. If realized, the world wheat crop would still be the second largest on record.

 Of the total, Russian and Ukrainian wheat production estimates were both raised slightly from the October estimate to 90.0 million and 28.7 million tonnes respectively. Wheat production in the European Union was raised by 800,000 tonnes from October, to 133.2 million tonnes, while Argentina’s crop was down by 900,000 on the month at 14.7 million tonnes.

 World wheat ending stocks were forecast at 264 million tonnes, up by one million from October but below the 281 million tonne carryout in 2022/23.

 Global corn production was raised to 1.223 billion tonnes, which compares with the October estimate of 1.219 billion tonnes and the year-ago level of 1.161 billion tonnes. The corn carryout was estimated at 285 million tonnes, up by two million from October and by 10 million from the year ago.

 World soybean production is forecast to be up by seven per cent on the year, hitting a record of 395 million tonnes. That would be up by two million tonnes from the October estimate. World soybean ending stocks were left unchanged on the month at 62 million tonnes, which would be up by eight million from the previous year.

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