FAO analysts expect a decrease in global grain production in 2024/25

Published 2024년 12월 9일

Tridge summary

The FAO Cereal Price Index in November was 2.7% lower than October and 8% lower than November 2023. Despite wheat prices experiencing a slight increase, the supply of new crop grain in the Southern Hemisphere and good condition of winter crops in the Northern Hemphere prevented significant growth. Corn prices remained stable due to favorable weather conditions in South America, reduced demand from Ukraine, and seasonal factors in the USA. Prices for barley, rice, and sorghum decreased. The forecast for 2024/25 predicts a decrease in global grain production due to a decrease in wheat and corn production, with the volume of world production of grain crops expected to be 2.841 billion tons, which is 0.6% below the previous season's record.

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

Original content

In November, the average value of the FAO Cereal Price Index was 111.4 points, which is 2.7% lower than the October figure and 8% lower than the November 2023 figure. This is stated in the FAO report for November. World prices for wheat increased slightly. They were restrained from significant growth by the increase in the supply of new crop grain in the Southern Hemisphere and the improvement in the condition of winter crops in the large exporting countries of the Northern Hemisphere. World corn prices remained stable in November. Prices were restrained by favorable weather conditions in South America, reduced demand for supplies from Ukraine and seasonal factors related to the current year's grain arrivals in the United States of America. World prices for barley, rice and sorghum decreased. According to the forecast of FAO analysts for December, the volume of world production of grain crops in 2024/25 will be 2.841 billion ...

Source: Elevatorist