The US Department of Agriculture (USDA) has forecasted an increase in global wheat supplies by 0.8 million tonnes to 1.058 billion tonnes, primarily driven by Australia, Russia, and Argentina. The global wheat production is also expected to rise by 0.96 million tons to 786.7 million tons, and consumption by 1.5 million tons to 799.0 million tons. However, a decrease is expected in global feed grain production by 2.7 million tons to 1.507 billion tons in the 2023/2024 season, with corn production also predicted to be lower. Global barley production is also experiencing a decline, with reductions in Iraq and Syria being partially offset by increases in Australia.