USDA estimates world cereal production at 2,295 million tons as of February 2024

Published Feb 19, 2024

Tridge summary

The United States Department of Agriculture (USDA) has lowered its global cereal production forecast for 2023/24 by 2.9 million tonnes to 2,295.82 million tonnes, largely due to a decrease in world coarse grains production, particularly from Brazil. However, it has increased its corn production forecast by 3.1 million tons and expects wheat production to rise to 785.7 million tons. Notably, Argentina's wheat production is predicted to increase, while the European Union's wheat production is expected to decrease by 300,000 tons.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The United States Department of Agriculture (USDA) revised downwards by 2.9 million tonnes its previous forecast for 2023/24 world cereal production in its February report, which now stands at 2,295.82 million tonnes. Specifically, in the case of coarse grains, the USDA has revised world production downward by 3.7 million tons, with which a harvest of 1,510 million tons is expected, (compared to 1,446.3 million tons of the 2022/2023 campaign). Brazil is one of the countries responsible for this decline. Likewise, it should be noted that within coarse grains the USDA has revised the world sorghum harvest downward to 59.5 million tons, that is, 430,000 tons less. Oat production remains at 19.3 million tons and barley remains practically unchanged at 142.7 million tons. Regarding corn, the USDA has revised upwards its previous forecast by 3.1 million tons, now aiming for 1,232.5 million tons. Regarding wheat, the USDA expects 785.7 million tons to be reached (830,000 tons more than ...
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