FAO predicts a reduction in world trade in wheat and corn

This is stated in the message of the Food and Agriculture Organization of the United Nations (FAO). It is expected that world wheat production in 2024 will be the same as last year, at the level of 789 million tons. Meanwhile, corn production is forecast to decline by 1.9% year-on-year to 1,271 million tonnes due to lower-than-expected yields in the European Union and the United States. World rice production in 2024/25 MR is forecast at a record level of 538.8 million tons, which is 0.8% more than last year. Experts believe that in 2025, lower wheat prices may prevent the expansion of winter wheat acreage underway in the Northern Hemisphere. Below-normal rainfall in key wheat-growing regions affected planting operations. In contrast, favorable soil moisture and government support policies, together with profitable prices, should stimulate crop expansion in China and India. Cereal crops are being planted in the Southern Hemisphere. Early indications are that maize crops in ...