The International Grains Council (IGC) has raised its estimate of 2025-26 world grains production for the third straight month, with ending stocks now forecast to hit a three-year high.
In its monthly Grain Market Report on Thursday, the IGC pegged total world grains output (wheat and coarse grains) at a record 2.425 billion tonnes, up 13 million from the agency’s September projection, and now 98 million or 4% above the previous year. If accurate, it would be the largest year-over-year increase in global grains production since 2016-17. It would also mark the third straight year of expanded world production.
The IGC offset some of this month’s larger production estimate by raising its global grains consumption forecast – up 5 million tonnes to 2.4 billion – but ending stocks are still estimated 12 million tonnes higher than in September at 618 million. That is well above 593 million in 2024-25 and the highest since 2022-23 at 623 million.
Much of this year’s increase in total global grains production is due to a larger world corn crop, up 59 million tonnes from 2024-25 to 1.297 billion. However, the global wheat crop saw a substantial increase as well, rising 27 million tonnes to 827 million.
Compared to last month, world corn production was unchanged, but projected wheat output increased a hefty 8 million tonnes, the IGC report shows.
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