Record World Cereal Outputs Forecast for 2023/24
MAY 24, 2023
By Paul Homewood
What climate crisis?
Global corn production is forecast to sharply
increase, driven primarily by a forecast of continued
high production in Brazil and rebounds in the United
States and Argentina. Supplies in Ukraine are
forecast to fall as the ongoing war limits production.
Trade is forecast to increase as ample supplies from
major exporters Brazil, Argentina, and the United
States lower prices and supports a rebound in global
demand. Global consumption of corn for both feed
and non-feed uses is forecast up. Ending stocks are
also forecast to rise, primarily due to a strong surge
in stocks in the United States.
The global wheat outlook is for larger production
and consumption with declining global trade and
ending stocks. Production is projected to increase
with larger crops in Argentina, Canada, China, the
European Union (EU), India, and Turkey more than
offsetting large declines for Australia, Kazakhstan,
Russia, and Ukraine. Global trade will contract with
lower imports for China. Declines in exports for
Australia, India, Ukraine, and the United States will
more than offset increases for Argentina, Canada,
and the EU. Global consumption is forecast up on
larger Food, Seed, and Industrial (FSI) use more than
offsetting lower feed and residual use. Ending
stocks are forecast down, with smaller stocks in the
EU, Russia, and the United States.
https://notalotofpeopleknowthat.wordpress.com/2023/05/24/record-world-cereal-outputs-forecast-for-2023-24/
