Grains Market Outlook: Global Production and Trade Expected to Decline

The International Grains Council (IGC) has released its Grain Market Report for the 2026-27 marketing year. According to the report, global production, trade, and consumption of total grains are projected to decline compared to the previous year.

The IGC lifted its production forecast by 4 million tonnes from the previous month to 2.42 billion tonnes, which is still 3% below the record 2.49 million tonnes recorded in 2025-26. The council expects smaller harvests in Oceania, Europe, and the Americas, but larger harvests in North Africa and Near East Asia, leading to reduced import demand.

Projected totals for wheat and corn production, trade, and consumption remain below the records set a year earlier. Severe disruptions to Black Sea exports have slowed global wheat flows, with total grains shipments predicted to ease to 451 million tonnes from 467 million tonnes the previous year.