Tridge summary
Global grain production for 2024/25 is forecast at 2,315 million tonnes, with localized drought affecting wheat prospects in Australia and Argentina. Despite cuts in EU and Russia estimates, gains in Kazakhstan and Turkey keep the world crop estimate unchanged. Consumption is expected to rise, with carryover stocks increasing, but trade forecasts are lowered due to reduced imports. Soybean and rice production are projected to reach new peaks, with soybean output seeing a 7% increase and rice production rising by 8 million tonnes. However, total supplies are slightly lower year-on-year due to tighter opening stocks, and ending season stocks are expected to fall to a 10-season low. Global trade is anticipated to decrease significantly, with a 36 million tonne drop from last year's peak. The article also notes that increased output from Canada and the EU is offsetting reduced Russian production, but inventories are expected to decline by 6%, and trade is projected to decrease by 12% in 2025 due to reduced demand in India.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
HIGHLIGHTS Global grains (wheat and coarse grains) production in 2024/25 is forecast at 2315mt. Localised drought has limited wheat prospects slightly in Australia and Argentina ahead of the main winter harvest. Estimates for the EU and Russia are also cut, but with offsetting gains elsewhere, including Kazakhstan (wheat) and Turkey (barley), the world crop estimate is unchanged m/m. Almost entirely tied to the higher feed utilization figure, the total consumption forecast is up 3 million tonnes from the previous estimate, to 2,328 million. Taking into account higher-than-previously projected opening stocks, the global carryover figure (the aggregate of relevant local marketing years) is up 3 million tonnes m/m, to 584 million. The trade forecast is lowered by 2 million tonnes to 419 million, including lower import figures for wheat (including Turkey), corn (China) and barley (China, Iran), oilworld.ru reports citing the IGC. Reflecting slightly higher expectations from South ...
Source: Oilworld
Would you like more in-depth insights?
Gain access to detailed market analysis tailored to your business needs.
Related market data
What to read next
Read more relevant content
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.