# A larger corn crop is expected globally

> The International Grains Council raised its 2023/24 global maize production forecast by 6 million tonnes to 1.208 billion tonnes, driven by a US upgrade to 381.8 million tonnes. It kept the world wheat forecast at 787 million tonnes and lowered Ukraine's corn outlook, while total grain stocks are projected to fall to their lowest since 2014/15.

- Date: 2023-04-21 · published 2023-04-21T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/36434-a-larger-corn-crop-is-expected-globally
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A larger US crop and higher US export forecast add supply and pressure on corn prices, while falling global stocks provide underlying support. Lower Ukrainian output partially offsets the US gain.

## Read by commodity

- CORN: bearish ▼
- WHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2019-04-09 | [USDA Expects Larger Corn Stocks](https://feedsoft.ai/events/11376-usda-expects-larger-corn-stocks.md) | +1.8% | -0.5% |
| CORN | 2017-07-17 | [U.S. corn, soybean crops projected larger](https://feedsoft.ai/events/69890-u-s-corn-soybean-crops-projected-larger.md) | +2.4% | -1.3% |
| CORN | 2020-08-12 | [USDA Expects Record Corn Crop](https://feedsoft.ai/events/51548-usda-expects-record-corn-crop.md) | +3.8% | +8.3% |
| CORN | 2025-09-30 | [USDA Grain Stocks 'Surprise' With Larger Corn Inventories Than Expected](https://feedsoft.ai/events/9842-usda-grain-stocks-surprise-with-larger-corn-inventories-than-expected.md) | +0.8% | +1.0% |
| CORN | 2025-02-28 | [Prices face pressure as larger U.S. crops expected this year \| The Western Producer](https://feedsoft.ai/events/26080-prices-face-pressure-as-larger-u-s-crops-expected-this-year-the-western-producer.md) | -2.4% | +0.5% |
| WHEAT | 2025-08-12 | [USDA Ups 2025 Corn Production More Than Expected in Latest Crop Production Report](https://feedsoft.ai/events/23262-usda-ups-2025-corn-production-more-than-expected-in-latest-crop-production.md) | +2.8% | -0.0% |
| WHEAT | 2023-06-19 | [Australia’s national wheat production dips while global crops prove ‘significantly’ bigger than expected  \| Countryman](https://feedsoft.ai/events/35435-australia-s-national-wheat-production-dips-while-global-crops-prove.md) | +2.6% | +0.5% |
| WHEAT | 2021-10-19 | [Bumper grain harvest expected again this year](https://feedsoft.ai/events/44501-bumper-grain-harvest-expected-again-this-year.md) | +0.7% | +9.2% |

## Sources

- tridge.com: https://www.tridge.com/news/a-larger-corn-crop-is-expected-globally

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