The USDA revises its global cereal production forecasts upwards

Published 2024년 1월 15일

Tridge summary

The USDA has raised its forecast for world cereal production in 2023/24 by 13.7 million tons, reaching 2,298.7 million tons, with an increase in production of coarse grains due to higher estimates in China and the United States, but a decrease expected in Brazil and the European Union. World barley and oat harvests have been revised downwards, while sorghum production remains unchanged. Corn and wheat production are both expected to increase compared to the previous campaign. Consumption of coarse grains and wheat is forecasted to increase, as well as the final stocks of both.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In its January report, the United States Department of Agriculture (USDA) revised upwards by 13.7 million tons its previous forecast for world cereal production 2023/24, which now stands at 2,298.7 million tons. Specifically, in the case of coarse grains, the USDA has revised world production upwards by 11.8 million tons, with which a harvest of 1,513.8 million tons is expected (compared to 1,446 million tons of the 2022/2023 campaign). China is responsible for this increase, since production is estimated at 297.1 million tons, 11.8 million tons more than in last month's report. It also rose 2.6 million tons (402.8 million tons) in the United States. However, in Brazil the USDA forecasts a production of coarse grains of 132.3 million tons, 2 million tons less than in the month of December. Also in the European Union, a decrease in production of 1.7 million tons is expected compared to the previous month (134.7 million tons). Likewise, it should be noted that within coarse grains ...

Source: Agropopular