Kazakhstan is projected to reduce its wheat imports for the 2023/24 agricultural year from 2 million tons to 1.2 million tons due to high domestic production. Similarly, Russia's wheat production is expected to decrease, which will affect its export numbers. Other countries like Ukraine and the European Union are also expected to see a decrease in wheat production. On the other hand, the United States, Canada, Australia, and Argentina are expected to increase their wheat production. China and India, major importers, are also expected to see an increase in wheat harvest. The International Grains Council forecasts a new peak in global cereal production in the 2024/25 agricultural season, with an increase of 16 million tons. Despite this increase in production, total supplies are expected to remain the same as the previous season, and cereal ending stocks are expected to fall due to increased consumption. International trade is expected to decrease by 35 million tons year-on-year.