# IGC sees record total grains output in 2023-24 | World Grain

> The IGC's May report raised its 2023-24 total grains production forecast by 3 million tonnes to a record 2.294 billion tonnes. Global soybean output is forecast up 9% to 403 million tonnes, while ending stocks are projected to tighten to 580 million tonnes as consumption grows faster.

- Date: 2023-05-22 · published 2023-05-22T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/35982-igc-sees-record-total-grains-output-in-2023-24-world-grain
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Record global output pressures grain and oilseed prices, though tighter projected stocks limit the downside. The IGC's grains and oilseeds index fell 7% to a 23-month low on softer export prices.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2026-01-15 | [IGC: Carryover stocks aided by record grains output \| World Grain](https://feedsoft.ai/events/12591-igc-carryover-stocks-aided-by-record-grains-output-world-grain.md) | -1.3% | +2.8% |
| WHEAT | 2026-06-25 | [IGC revises 2026-27 global grain output higher \| World Grain](https://feedsoft.ai/events/18899-igc-revises-2026-27-global-grain-output-higher-world-grain.md) | -0.5% | -0.0% |
| WHEAT | 2020-12-09 | [Grain output forecast to rise in EU in 2021 \| 2020-12-09  \| World Grain](https://feedsoft.ai/events/49591-grain-output-forecast-to-rise-in-eu-in-2021-2020-12-09-world-grain.md) | -1.1% | +4.5% |
| WHEAT | 2019-09-20 | [Coceral sees higher E.U. grain output \| 2019-09-20  \| World Grain](https://feedsoft.ai/events/57023-coceral-sees-higher-e-u-grain-output-2019-09-20-world-grain.md) | +2.5% | +3.3% |
| WHEAT | 2025-08-21 | [IGC sees corn output spiking on increased US production \| World Grain](https://feedsoft.ai/events/23356-igc-sees-corn-output-spiking-on-increased-us-production-world-grain.md) | -2.0% | -3.2% |
| SOY | 2026-06-25 | [IGC revises 2026-27 global grain output higher \| World Grain](https://feedsoft.ai/events/18899-igc-revises-2026-27-global-grain-output-higher-world-grain.md) | -0.1% | +8.7% |
| SOY | 2024-08-22 | [Record US soybean crop forecast in 2024 \| World Grain](https://feedsoft.ai/events/28788-record-us-soybean-crop-forecast-in-2024-world-grain.md) | -0.5% | +5.2% |
| SOY | 2022-10-06 | [Early rains boost hopes for record Brazilian corn, soybean output in 2022-23 - Grain Price News](https://feedsoft.ai/events/13693-early-rains-boost-hopes-for-record-brazilian-corn-soybean-output-in-2022-23.md) | +1.9% | +5.1% |

## Sources

- world-grain.com: https://www.world-grain.com/articles/18540-igc-sees-record-total-grains-output-in-2023-24

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.