The global wheat production forecast for the 2024/2025 season has been slightly revised downwards to 796 million tons, a modest 1% increase from the previous year, primarily due to expected production declines in the EU and the UK caused by adverse weather. Conversely, the US is anticipated to see a rise in wheat production thanks to favorable weather conditions and improved yields. The conflict in Ukraine continues to affect its agricultural output, while Russia is projected to have above-average wheat production despite a slight decrease from the previous year. Additionally, the FAO has updated the 2023/2024 world cereal production estimate to 2,841 million tons, with global rice production slightly increased to 526.4 million tons, equalling the record harvest of 2021/22.