Changeable weather has made adjustments to the outlook for the world's wheat harvest, while the supply of grains as a whole will remain at an acceptable level in the 2024-2025 season

Published 2024년 6월 8일

Tridge summary

The article highlights the forecast for the 2023-2024 farming season, projecting a minor increase in global cereal production to a record 2,847 million tonnes, primarily due to a surge in maize production. Consumption is expected to rise by 1.6 percent to 2.836 million tons, with a notable increase in coarse grains and wheat consumption for feed. End-of-season cereal stocks are anticipated to increase by 1.4 percent to 884 million tons, driven by higher coarse grains and rice inventories. International cereal trade is set to increase by 1.7 percent to 487 million tonnes. Looking ahead to the 2024-2025 season, global cereal production is predicted to slightly decrease, but consumption is expected to reach a new high of 2,851 million tonnes. Global grain feed consumption could also see a slight increase, driven by demand for coarse grains. The article emphasizes the need for detailed grain market analysis, which will be provided in the Food Outlook publication on June 13, 2024.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The 2023-2024 (July/June) farming season is coming to an end, with FAO estimating that global cereal production in 2023 will be a record 2,847 million tonnes, up 1.2 percent from 2022 production. The significant increase was largely due to a surge in global maize production, which more than offset declines in sorghum and wheat production. Cereal consumption in the 2023-2024 season could also exceed the level of the 2022-2023 season by 1.6 percent and is estimated at 2.836 million tons. The main increase was due to increased consumption of coarse grains and wheat, especially for feed purposes, amid the availability of sufficient stocks and lower prices compared to the previous season, while a slight decrease in rice consumption was recorded. End-of-season cereal stocks in 2024 are expected to be 884 million tons, up 1.4 percent from early-season levels and driven by higher inventories of coarse grains and rice amid a slight decline in global wheat stocks. Due to increased trade in ...

Source: Zol