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Record Global Grain Production Forecast By 2017-18

The International Grains Council expects world total grains output to slow a bit over the next year or two.

However, the Council is forecasting output growth will resume, surpassing the current record by the 2017-18 growing season.

The IGC says most of the gain in output is expected to come from better average yields.

While forecasting steady increases in global wheat production over the next five years, the council says those increases will not be as big as what we've seen in recent years.

It also expects continued competition from other crops will result in only marginal increases in wheat planted acres.

The Council is predicting ongoing increases in area and yields for corn internationally - but expects those increases will also be smaller than what we've seen in recent years.

Corn consumption is expected to trend higher, mainly because of animal feed demands.

The IGC is also expecting animal feed demands to help push up global soybean consumption.

The Council is forecasting world soybean production to increase steadily through the 2019-20 growing season.

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