The International Cereals Council has increased its forecast for global cereal production for the 2023/24 season to a record 2,294 million tons, an increase of 3 million tons from the previous forecast, largely due to higher expected maize crops. However, forecasts for wheat and barley have been reduced, with wheat production expected to decrease to 783 million tons from 803 million in the current season. Despite the increased production, the council expects the final stock of the campaign to be lower due to increased consumption, with demand projected to grow by 1.7%, driven by increased consumption of animal feed, human consumption, and industrial use. However, the council also expects a decrease in world trade in the 2023/24 campaign due to lower wheat trade, which will be offset by an increase in corn trade.