USDA revises down its global grain production forecast by 5.2 million tons

In its October report, the United States Department of Agriculture (USDA) revised its previous forecast for world cereal production in 2024/25 downwards by 5.2 million tonnes, which now stands at 2,294.1 million tonnes. Specifically, in the case of wheat, the USDA has revised world production downwards by 2.8 million tonnes, with a crop expected at 794 million tonnes (compared to 790.3 million tonnes in the 2023/2024 campaign). The European Union is one of those responsible for this decline, as a production of 123 million tonnes is estimated, 1 million tonnes less than in last month's report. Likewise, the USDA has also reduced its wheat crop forecast for Russia by 1 million tonnes (82 million tonnes). As regards coarse grains, the USDA expects a harvest of 1,500.1 million tonnes (2.3 million tonnes less than forecast in September), compared to 1,501.2 million tonnes in the 2023/24 campaign. In Russia, the USDA forecasts a coarse grain production of 35.5 million tonnes, i.e. 1.3 ...