IGC lowers global grain production forecast for 2024/25 MY

The International Grains Council (IGC) has revised its forecast for global grain production in the current season down by 3 million tonnes compared to its January estimate. The expected production volume is 2.301 billion tonnes. This decrease is due to adverse weather conditions that affected the corn and sorghum harvest in South America. The updated estimate is also slightly lower than the previous marketing year (2.309 billion tonnes).

Global grain consumption has been revised downward to 2.334 billion tonnes. But this figure remains a record and exceeds the result of the previous season by 12 million tonnes.

Global grain trade will be less intense than forecast a month ago. The main reason is the reduction in imports of sorghum and wheat from China. According to IGC estimates, the total volume of grain trade in 2024/25 MY will reach 419 million tons, which is 50 million tons less than in the previous season.

World grain stocks at the end of the current marketing year are estimated at 576 million tons. This is 3 million tons more than forecast a month ago, but 5% less than in the previous season.

Next marketing year, global production, consumption and trade of wheat are expected to increase, although its stocks will continue to decline. The area under corn in 2025/26 MY is planned to expand, particularly in exporting countries, while the area under barley will recover somewhat after the historical minimum last year.

The importance of high-quality grain drying

To maintain high grain quality, special attention should be paid to the correct drying process. Optimal drying regimes prevent mold growth and crop losses, and also preserve the marketable characteristics of products. The use of modern grain dryers helps to effectively control the moisture level and ensure long-term storage of grain crops.