The USDA revises its global cereal production forecasts upwards

Published 2023년 12월 11일

Tridge summary

The USDA has revised its forecast for world cereal production in 2023/24 upwards by 3.8 million tons, with coarse grain production expected to reach 1,501.9 million tons, driven by increases in production in Russia, Ukraine, and the European Union. Barley production has been revised upwards by 1.3 million tons, while wheat production is expected to reach 783 million tons, 1 million tons more than previously forecast. Consumption of coarse grains is expected to increase by 2.8 million tons, while final stocks of wheat are reduced by 490,000 tons and those of coarse grains increase by 430,000 tons.

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

Original content

In its December report, the United States Department of Agriculture (USDA) revised upwards by 3.8 million tons its previous forecast for world cereal production 2023/24, which now stands at 2,285 million tons. Specifically, in the case of coarse grains, the USDA has revised world production upwards by 2.6 million tons, with which a harvest of 1,501.9 million tons is expected (compared to 1,447.4 million tons of the 2022/2023 campaign). Russia is partly responsible for this increase, with production estimated at 43.2 million tonnes, up 1 million tonnes from last month's report. It also rises in Ukraine by 1 million tons (37.4 million tons). In the European Union, coarse grain production is forecast at 136.5 million tons, 430,000 tons more than the November report. Likewise, it should be noted that within coarse grains the USDA has revised upwards the world barley harvest by 143.5 million tons, that is, 1.3 million tons more. Oat production remains practically unchanged at 20.5 ...

Source: Agropopular