LONDON, ENGLAND – In its first projection for the 2025-26 crop year, the International Grains Council (IGC) forecast total grains production increasing with larger year-on-year output for corn, wheat and barley.

The Council, in its Grain Market Report released on March 20, said total grains production is expected to increase by 3% to a record 2.368 billion tonnes.

 

“With production gains only partly countered by a low level of opening stocks, a 1% increase in total supply is anticipated,” the IGC said.

Global corn production is seen increasing by 4% year on year to a record 1.268 billion tonnes, the report said.

Wheat output is projected to increase by 1% year on year to a record 807 million tonnes.

Buoyed by an accumulation in the major exporters, total grains carryover inventories are expected to edge higher after declining to the lowest total in a decade (576 million tonnes) in 2024-25.

In the Council's first outlook for the 2025-26 global soybeans crop, a record outturn is anticipated at 427 million tonnes, up slightly from the previous year, while further gains in total use and inventories are likely.

With Brazilian suppliers predicted to account for two-thirds of world shipment flows, soybean trade is projected to rise by 2% to a fresh high, the IGC said.

Following a year of record rice production and consumption, the IGC’s tentative expectations for 2025-26 point to further gains in output, boosted by expanded plantings and trend yields. Global rice production is pegged at 538 million tonnes, up 4 million tonnes from the 2024-25 total.

“Growing populations in key consuming regions are set to underpin expanded total use, while firmer demand from buyers in Asia and Africa could see trade increase to a record of 59 million tonnes,” the IGC said. “India is set to remain the dominant exporter.”

The IGC’s Grain and Oilseed Price Index eased by 2% from the February report as every grain and oilseed commodity measured, except for barley, declined month on month. The Index is down 3% year on year mostly due to a 29% drop in rice prices. The price of corn is up nearly 18% from the previous year.

Source: World Grain