IGC Trims 2015-16 World Wheat Forecast
Thu Jul 30, 2015 10:22 AM CDT

LONDON (Dow Jones) -- The London-based International Grains Council on Thursday lowered its forecast for global wheat production by 1 million metric tons for 2015-2016, to 710 million tons.

In its monthly report, the IGC raised its forecast for total grains production this year to 1,970 million tons, a 4 million ton boost from the previous month's forecast of 1,966 million tons, largely due to an increase in the estimate for corn production. The harvest is forecast to be 43 million tons below the 2014-2015 record season, but will still be the third-largest crop on record, the council said.

"Unfavorable ...

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