KEY POINTS Considering a slight reduction in barley and sorghum production, global grain production (wheat and feed grains) in 2025/26 is forecast to be 1 million tons lower than the previous month and will amount to 2,376 million tons. The consumption adjustment mainly concerns corn: projected consumption increased by 3 million tons compared to the previous month and stands at 2,376 million tons, which generally corresponds to the production volume. The forecast for carry-over stocks (aggregate of relevant local marketing years) is narrower than before and amounts to 582 million tons, which has practically not changed compared to the previous year. The volume of grain trade remains at 430 million tons, reports oilworld.ru with reference to IGC. Given slower-than-expected shipments from Brazil to key regions, the forecast for soybean trade volume in 2024/25 has been reduced by 1 million tons to 179 million tons, although this is still a new peak. Demand and supply forecasts for ...