FAO increases world grain harvest 2023/24 to record level The Food and Agriculture Organization of the United Nations (FAO) estimates the world grain harvest including rice at around 2,819 million t compared to the previous year's 2,279 million t . Excluding rice, the total harvest is 2,295.7 million t, just under 1 million t above the USDA estimate from September 23. Recent production increases are seen primarily in Ukraine and Russia , as well as a favorable corn harvest in Brazil . Although this is offset by crop reductions in Canada, Kazakhstan and Argentina, they are comparatively smaller. The global rice harvest remains constant compared to the previous month's estimate, but is above the previous year's level. The FAO estimates global consumption at around 2,804 million t (previous year: 2,782 million t). The increase is mainly attributed to higher use for direct human nutrition, while feed consumption will remain stable due to the limited number of animals.A lower barley harvest is offset by higher corn harvests . This year's higher rice harvest is above constant consumption. Global ending stocks increase by 25 million tonnes, improving the supply figure to 30.8% ending stocks for consumption. Higher stocks are expected in Russia and Ukraine. In addition, there are significant increases in corn stocks in Brazil. The global wheat market is characterized by a lower harvest of 785 million t compared to the previous year's 803 million t. Nevertheless, taking into account consumption of 783 million tonnes, the supply situation remains good with a supply figure of 40.2% compared to previous years of 36 to 38%. In the global coarse grain market , production of 1,511 million t compares to estimated consumption of 1,500 million t. This results in an improvement in inventory levels to a good average of 23.6% final inventory for consumption.
