The FAO has increased its forecast for world cereal production in 2023 by 13.2 million tonnes, reaching a record 2,836 million tonnes, due to better-than-expected maize outputs. Despite weather challenges, Brazil is expected to harvest an above-average maize crop in 2024, and Argentina's production is also set to rebound. The global grain forecast has increased by 8.9 million tonnes, largely due to larger maize exports from Türkiye, Ukraine, and Russia, and increased demand from China and Mexico. However, the forecast for international rice trade in 2024 has been lowered due to reduced import expectations for Nepal and Nigeria.