The USDA revises its global cereal production forecasts downwards

Published 2024년 3월 11일

Tridge summary

The USDA has lowered its global cereal production forecast for 2023/24 by 1.7 million tons to 2,294.1 million tons, primarily due to a decrease in coarse grains production, particularly in Ukraine. The world barley harvest prediction has also been reduced by 142.2 million tons. Conversely, wheat production forecasts have been raised to 786.7 million tons. While wheat consumption is projected to rise, coarse grains consumption is expected to drop, leading to a decrease in final stocks for both.

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

Original content

In its March report, the United States Department of Agriculture (USDA) revised downwards by 1.7 million tons its previous forecast for world cereal production 2023/24, which now stands at 2,294.1 million tons. . Specifically, in the case of coarse grains, the USDA has revised world production downwards by 2.6 million tons, with which a harvest of 1,507.4 million tons is expected (compared to the 1,446 million tons of the 2022/2023 campaign). Ukraine is one of the countries responsible for this decline, with an estimated production of 36.6 million tons, 1 million tons less than in last month's report. Likewise, it should be noted that within coarse grains the USDA has revised downwards the world barley harvest by 142.2 million tons, that is, 560,000 tons less. The oat harvest remains practically unchanged at 19.4 million tons and the world sorghum harvest increases slightly by 140,000 tons (59.7 million tons). Regarding corn, the USDA has revised its previous forecast downward by ...

Source: Agropopular