On September 21, foreign media reported that the International Grain Council (IGC) released its monthly report on Thursday. The report stated that the IGC has increased its global corn production forecast for the year 2023/24. This increase is attributed to the improved corn prospects in Ukraine.

The global corn production forecast for 2023/24 has been increased by 1 million tons to 1222 million tons, with Ukraine's production expected to be 28 million tons, higher than the previous forecast of 27 million tons.

IGC stated that this month's production adjustment mainly reflects the latest harvest data. Good harvests in Russia and Ukraine have been reported, but production expectations have been lowered due to recent adverse weather conditions in Australia, Canada, and Argentina.