The USDA revises its global cereal production forecasts upwards

In its November report, the United States Department of Agriculture (USDA) revised upwards by 3.3 million tons its previous forecast for world cereal production 2023/24, which now stands at 2,281.2 million tons. Specifically, in the case of coarse grains, the USDA has revised world production upwards by 4.7 million tons, with which a harvest of 1,499.3 million tons is expected (compared to 1,447.1 million tons of the 2022/2023 campaign). The United States is partly responsible for this increase, with production estimated at 400.2 million tons, up 3.3 million tons from last month's report. It also rises in Russia by 2.4 million tons (42.2 million tons). On the contrary, it fell slightly in the European Union by 120,000 tons, standing at 136.1 million tons. Likewise, it should be noted that within coarse grains the USDA has revised upwards the world barley harvest to 142.2 million tons, that is, 510,000 tons more. Oat production remains practically unchanged at 20.4 million tons and ...