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IGC forecasts 2.7% drop in global grains output for 2026-27

The International Grains Council projects carryover stocks falling 26 million tonnes to 610 million as tighter supplies weigh on trade.

Reported · Written up by our desk · Agriculture

The International Grains Council expects global grains production in marketing year 2026-27 to fall 2.7% to 2.49 billion tonnes, down from last year’s record, in its latest Grain Market Report.

The council said the decline is largely tied to smaller anticipated maize (corn) and wheat crops, with maize output forecast at 821 million tonnes, 23 million lower year on year, and wheat production seen falling 37 million tonnes to 1.306 billion tonnes. It also projects carryover stocks could shrink by 26 million tonnes to 610 million amid tighter supplies.

IGC forecasts global grain trade would drop 17 million tonnes to 450 million, pointing to expected smaller wheat and barley shipments to Near East Asia and North Africa. It warned that export logistics are more uncertain than a month earlier due to intensified Russia-Ukraine hostilities affecting shipments from the Black Sea.

While grains output is expected to decline, IGC sees soybean production rising 10 million tonnes to a new peak of 441 million tonnes and consumption reaching a record 445 million tonnes, supported by rising demand for derivatives in key end-use sectors. The council also expects the IGC Grains and Oilseeds Price Index to be up 7% since its June report, and nearly 12% higher than in July 2025.

Latest closeWheat $677.75 ▲7.4%|Corn $469.25 ▲8.2%

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