Led by corn, the International Grains Council (IGC) is projecting a record global harvest of total grains in 2025-26.
In its first full set of new-crop projections on Thursday, the IGC pegged total grains output (wheat and coarse grains) at 2.368 billion tonnes, up about 2.7% from a year earlier. Despite relatively low beginning stocks, the rebound in production is forecast to boost total supply to a new high, with projected consumption rising 1% to 2.367 billion.
After three years of contraction, 2025-26 global ending stocks of total grains are estimated to edge higher – up 1 million tonnes from a year earlier to 578 million - “but with inventories still unusually tight.”
New-crop world corn production is seen by the IGC at 1.269 billion tonnes, an increase of 4.3% from a year earlier, as the US crop is projected to rise the same amount to 394.2 million tonnes. Brazil and Argentina corn production is expected higher as well, with Brazil up to 130 million tonnes from the current year’s forecasted 123.3 million, and Argentina up to 59.1 million from 53 million.
At 280 million tonnes, 2025-26 world corn ending stocks are projected to rise 6 million year-over-year but remain well below the 2023-24 stocks level of 296 million.
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