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As per the International Grains Council (IGC), the forecast for global total grains production to 2.102 billion tonnes, up from 2.094 billion tonnes in January, and up from 2.006 billion in 2015-16. If realized, it would be the first time output has exceeded 2.1 billion tonnes. Total consumption was raised to 2.069 billion tonnes from 2.062 billion tonnes.

The IGC forecast world wheat production in 2016-17 at 752 million tonnes, unchanged from January and compared with the record outturn of 737 million tonnes in 2015-16. World wheat ending stocks were forecast at a record 236 million tonnes, up from 235 million tonnes in January and up 15 million tonnes from 221 million tonnes in 2015-16.

The IGC forecast 2016-17 maize production at 1.049 billion tonnes, up from 1.045 billion tonnes in January and compared with 973 million tonnes in 2015-16. The consumption projection was raised to 1.035 billion tonnes from 1.028 billion tonnes in January.Improved weather in South America led the IGC to raise its forecast for world soybean production, to 336 million tonnes, from 334 million in January. The consumption projection, meanwhile, was raised to 334 million tonnes from 333 million. The IGC said global trade is expected to increase to 139 million tonnes.