USDA slightly revises upward its global grain production forecasts

Published 2024년 11월 11일

Tridge summary

The USDA's November report has revised the global cereal production forecast for 2024/25, increasing it by 300,000 tonnes to 2,294.4 million tonnes. This includes a slight rise in wheat production to 794.7 million tonnes, with the UK contributing to this increase. However, coarse grain production is expected to decrease to 1,499.7 million tonnes, and the harvest forecasts for the European Union and Canada have also been reduced. Additionally, the world barley and sorghum harvests have been revised downwards, while the corn forecast has been raised. Consumption projections for coarse grains and wheat have also increased, alongside a slight decrease in final coarse grain stocks.

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

Original content

In its November report, the United States Department of Agriculture (USDA) revised its previous forecast for world cereal production in 2024/25 up by 300,000 tonnes, which now stands at 2,294.4 million tonnes. Specifically, in the case of wheat, the USDA has revised world production up slightly by 650,000 tonnes, with a crop expected at 794.7 million tonnes (compared to 790.4 million tonnes in the 2023/2024 campaign). The United Kingdom is one of the countries responsible for this slight increase, as it estimates production at 11 million tonnes, 200,000 tonnes more than in last month's report. However, the European Union is forecasting a 400,000 tonne (122.6 million tonnes) drop in wheat harvest and in Russia a 500,000 tonne (81.5 million tonnes) drop. Coarse grain production is down The USDA expects coarse grain production to reach 1,499.7 million tonnes (400,000 tonnes less than forecast in October), compared to 1,504.6 million tonnes in the 2023/24 campaign. In Russia, the USDA ...

Source: Agropopular