IGC Raises Grain Forecast
Fri Nov 29, 2013 07:58 AM CST

(Dow Jones) -- Global wheat output for the 2013-14 crop year is forecast to reach 698 million metric tons, up from the prior forecast of 696 million tons, the London-based International Grains Council said Thursday.

"Increased figures for China and the U.S. boost the forecast for world wheat production to 698 million tons, up 7% year on year," said the IGC.

Global corn production for the 2013-14 crop year is revised higher by 2 million tons to a record 950 million tons. Production is expected to grow by 10% on the year, mainly due to a rebound in the U.S. ...

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