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IGC Lifts Grain Trade Forecast
The International Grains Council (IGC) has lifted its forecast for global grain trade in the 2017/18 market year (Jul-Jun) by 4.5 Mt to a record 353.6 Mt, up from 352.0 Mt in 2016/17. This reflects the expectation of stronger wheat and coarse grain shipments from the Black Sea. The Russian wheat export forecast has been lifted by 2.1 Mt to 32.0 Mt, coupled with higher forecast corn shipments from Brazil and Argentina.