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IGC Revises Corn and Soyabean Forecasts

Grain

In its October report, the International Grains Council (IGC) has projected world corn exports in the 2019/20 market year (July-June) will reach 167.5 Mt, up 2.9 Mt from September’s forecast. The projection featured upward revisions for Brazilian (+2.0 Mt to 39.0 Mt) and Ukrainian (+1.6 Mt to 29.0 Mt) exports.

Meanwhile, the 0.5 Mt month-on-month upward revision for world soyabean exports in 2019/20 (October-September) to 150.6 Mt was mainly driven by an expected rise in shipments from the US (+0.5 Mt to 49.2 Mt).