On Friday, FAO published a new overview of grain supply and demand, containing new analyses of crop prospects for 2025/26. FAO's latest forecast predicts global grain production in 2025 will reach a record high of 2,925 million tons, which is 0.5% more than last month and 2.3% above the 2024 level. The upward revision is driven by improved prospects for wheat, corn, and rice. However, forecasts for hot and dry weather in parts of key producing regions could impact yield potential, especially for corn. Wheat production forecasts are 805.3 million tons, supported by higher-than-expected yields in India and Pakistan. Global corn production is also expected to increase, driven by favorable conditions in Brazil and larger-than-anticipated planted areas in India, compensating for reductions in Ukraine and the EU due to dry weather and reduced planted areas. Global rice production in 2025/26 is expected to reach a record level of 555.6 million tons (based on milled yield), supported by ...