IGC forecasts total world grains to trend bearish

According to the most recent International Grains Council (IGC) Grain Market Report, there will be a reduction in global total grain production, consumption, ending inventories, and trade in the marketing year 2022–2023. According to the analysis, world production of all grains, including wheat and coarse grains, is predicted to fall by 33 million tonnes in 2022–2023 to 2.255 billion tonnes (down 1%) and maize, a smaller grain, by 53 million tonnes. Total consumption is 1 million tonnes higher month over month due to a higher number for maize feeding.