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IGC Raises Corn Outlook, Sees Grains Stockpiles at 30-Year High

World corn output will beat a November forecast, the International Grains Council said, lifting the estimate an eighth time on improved prospects for South America.

Bigger corn and wheat crops will expand world grain output excluding rice to a record and lift inventories at the end of the season to the highest in about 30 years, the London-based organization wrote in a report today.