Record global grain production is expected in the current agricultural year

The global grain harvest for the current crop year (which rotates every July) could reach 2,815 million tonnes, matching the previous record high in 2021. This is reported in the latest report of the UN Food and Agriculture Organization (FAO). This is also 0.9 percent higher than the level of the last agricultural year and four million tons less than the July forecast. At the same time, individual world wheat production is expected to be 2.2 million below the July forecast (781.1 million tons). Compared to last year, this is 2.6 percent lower. At the same time, the figure will be the second highest in the entire history of observations. The biggest impact on the downgrade was lower-than-expected harvest forecasts in Canada and the European Union due to severe drought. Also, separately, for a completely opposite reason (due to heavy heavy rains), the harvest estimate in China was lowered, although to a lesser extent. However, the decline in the forecast as a whole was partially ...