Record grain production increases global reserves

The global production of cereals in 2025 is expected to increase by 0.7% (19.9 million tons) to 3,023 million tons, confirming the already expected record level, according to the latest forecast by the United Nations Food and Agriculture Organization (FAO). The upward revision mainly reflects higher-than-expected wheat yields in Argentina, Canada, and the European Union, which has led to a new historical peak in global wheat production. Similarly, the forecast for global coarse grain production was slightly revised upwards, placing production at a new peak. The revision reflects updated data from China and the United States showing higher corn acreage and better-than-expected yields, while upward revisions in barley production in Australia and Canada further strengthen the record outlook for this month. FAO: Dairy products, meat, and sugar see lower prices For rice, FAO increased its forecast for global production for 2025/26 by 2.9 million tons since December, thanks to the ...