The forecast for world grain production for 2024 has been raised, expected to exceed 2023 levels

FAO's July forecast for global cereal production in 2024 was raised by 7.9 million tonnes (0.3 percent) to now stand at a record 2,854 million tonnes, slightly above 2023 levels. This increase from the June forecast is driven by improved outlook for coarse grains (world production forecast increased 0.4 percent to 1,530 million tons) and wheat (production expected to increase 0.3 percent to 789 million tons). The brighter outlook for coarse grains is mainly due to improved corn crop prospects in Argentina and Brazil. These forecasts have been raised slightly this month due to more favorable weather conditions following a period of unsettled weather in previous months. However, Brazil's output is still expected to decline from its 2023 record level. Corn production forecasts for Turkey and Ukraine were also raised. This upward revision more than offsets reductions in maize production forecasts for Indonesia and several southern African countries where crops have been affected by ...