The United Nations' Food and Agriculture Organization (FAO) has revised its 2024 world cereal production forecast, predicting a slight increase to 2851 million tonnes, barely above 2023 levels. This adjustment primarily reflects expected declines in coarse grain harvests, such as maize, due to adverse weather conditions in the European Union, Mexico, and Ukraine. In contrast, the FAO has increased its forecasts for both 2024 world wheat production and rice production, with rice projections reaching a record 537 million tonnes. The total world cereal utilization for 2024/25 is projected to marginally increase to 852 million tonnes, with rice utilization also hitting a record high. Finally, the FAO anticipates a 1.2% rise in world cereal stocks by the end of 2025, despite a 3.3% decrease in international cereal trade forecasts for 2023/24, largely due to lower expected traded volumes of coarse grains.