FAO: Global corn and wheat production is expected to decline

Global cereal supply and demand conditions are generally optimistic, according to FAO's initial forecasts for 2024/25. Based on the current assessment of world cereal production prospects, global cereal production in 2024/25 is expected to reach 2.846 billion tonnes (including rice milled), almost matching the record production in 2023/24. Among major cereals, global corn and wheat production is expected to decline. Recent severe weather conditions in the Black Sea region are likely to lead to lower world wheat production. In contrast, barley, rice and sorghum are all expected to increase.