IGC Raises Wheat, Corn Forecast
Fri May 31, 2013 09:46 AM CDT

(Dow Jones) -- The International Grains Council on Friday raised its forecasts for the world's corn and wheat crops, citing better cultivation and yields in the European Union and the Soviet Union.

The IGC expects 682 million metric tons of wheat to be harvested, 4% more than last season and 2 million tons more than the organization estimated last month.

"Although there is continued uncertainty about harvest prospects in some major producers, global wheat availabilities are still set to be ample over the year ahead," the IGC said in a report.

It pegs the 2013-14 corn crop at 945 million ...

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