The US Department of Agriculture has raised its forecast for global feed grain production

The US Department of Agriculture raised its forecast for global coarse grain production in the 2023/2024 agricultural year by almost 5 million tons compared to the previous estimate made in October, to 1.499 billion tons (versus 1.447 billion tons in the 2022/2023 agricultural year). Feed grains include corn, sorghum, barley, oats, rye, millet and other crops. Global corn production is forecast at 1.221 billion tons (1.157 billion tons last season), up more than 6 million tons from the previous estimate. Global corn production is expected to rise significantly as harvest increases in the United States, Ukraine, Russia, Burma and Paraguay offset lower production in Mexico, Egypt and Indonesia, the USDA said in a report. The agency also raised its forecast for corn production in the largest exporting countries (to 246.3 million tons from 243.4 million tons) due to improved harvest expectations in the Russian Federation and Ukraine. Estimates for corn production in these countries ...