LONDON (Reuters) — The International Grains Council on Friday raised its forecast for global wheat production in 2014-15 to reflect larger-than-expected crops in Russia, the European Union and China.
The IGC, in a monthly update, put world wheat production in 2014-15 at 713 million tonnes, up from a previous forecast of 702 million and now unchanged from last year’s harvest result.
The organization projected world corn production at 973 million tonnes, up four million from last month’s forecast but still below the prior season’s record 982-million tonne harvest.
