IGC cuts forecast for 2020/21 global corn crop.

The International Grains Council (IGC) on Thursday cut its forecast for global corn (maize) production in the 2020/21 season, while doubling its projection for China's corn imports.

In its monthly update, the inter-governmental body reduced its global corn crop forecast by 10 million tonnes to 1.146 billion tonnes mainly due to diminished outlooks for crops in the United States, Ukraine and European Union.

The corn crop in the United States, by far the world's top producer, was pegged at 368.5 million tonnes, down from a previous forecast of 373.9 million and bringing it into line with the U.S. Department of Agriculture's current forecast.

The EU's corn crop forecast was cut to 60.1 million tonnes from 62.6 million, driven by a sharp downward revision for Romania's crop to 7.1 million tonnes from 10.4 million seen previously.

Drought has dented the outlook for corn production in both Romania and Ukraine this year.

Ukraine's crop was...