Commodities Buzz: Total world grains production is forecast to drop by 3% in 2026/27, says IGC

International Grains Council or IGC stated in a latest monthly update that Including m/m (month-on-month) downgrades for wheat, maize and sorghum, the 2026/27 world total grains production forecast is reduced by 5 million (m) tonnes (t) to 2,416m. Total grains production is forecast to drop by 3% in 2026/27, to 2,416m t, still the second largest on record. The smaller outturn more than offsets larger opening inventories, seen resulting in a 1% drop in total supply. Tied to bigger crops in the US and Brazil in particular, global soyabean output is predicted at a high in 2026/27 (+2%). World rice output in 2026/27 is anticipated to decline by 1% y/y. Growing food demand will likely underpin expanded global uptake and, as such, stocks could contract for the first time in four years.

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