In its most recent crop monitoring report for March, the International Grains Council (IGC) predicts that world production of grain [soybeans, maize, wheat and rice] in the 2017/18 cycle will reach 2,092 billion tonnes, down 2 million tonnes from the February estimate [2,094 bi tons].
On the other hand, the board raised the projection for the global grain trade in the 2017/18 cycle to 362 million tons, 1 million tons above the previous forecast [361 million tons].
READ TOO: Global grain stock to be tighter in 2018/19 harvest, says IGC