The International Grains Council has raised its old- and new-crop world grains production estimates from last month, with ending stocks heavier as well.
In its latest monthly Grain Market Report on Thursday, the IGC pegged total 2024-25 total grains output (wheat and coarse grains) at 2.313 billion tonnes, an increase of 3 million from its May estimate and above 2.311 million a year earlier. Meanwhile, the 2025-26 production estimate was revised up 2 million tonnes from last month to 2.377 billion.
Most of the increase in the 2024-25 production estimate is due to a larger world corn crop, up 2 million tonnes from last month to 1.225 billion but still below 1.233 million the previous year. Global wheat production for 2024-25 was left unchanged from last month at 799 million tonnes, an increase of 4 million from 2023-24.
For 2025-26, world corn production is now estimated at 1.276 million tonnes, down 1 million from May. Wheat output is seen 2 million tonnes higher, at 808 million, while expected rice production was revised 3 million tonnes higher to 544 million.
Total world grains ending stocks for 2024-25 are up 1 million tonnes from last month to 582 million tonnes – but still down sharply from 605 million in 2023-24. New-crop stocks, at 586 million tonnes, are also up 1 million from last month.
Global soybean production for 2024-25 was increased 3 million tonnes from May to 423 million (versus 395 million in 2023-24) with ending stocks up 2 million to 84 million, far above 72 million a year earlier.
New-crop soybean output is estimated at 428 million tonnes this month, unchanged from May, with ending stocks up 1 million at 82 million.
