FAO slightly corrects world grain harvest 2023/24.

3. Nov. 2023: FAO confirms world grain harvest 2023/24 at peak level

In its latest November 23 edition, the Food and Agriculture Organization of the United Nations (FAO) estimates the world grain harvest including rice at around 2,819 million tonnes, largely unchanged from the previous month. (previous year with 2,793.3 million t). Excluding rice, the total harvest is 2,295.4 million t, almost 3 million t above the IGC estimate as of mid-October 23. Increases in production are expected despite a reduction in area in favor of soy in a still favorable ( corn) harvest in Brazil . Crop reductions in Canada, Kazakhstan and Argentina partially compensate. 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 (including rice) at around 2,810.4 million t (previous year: 2,782 million t).The increase is essentially attributed to greater use for direct human nutrition, while feed consumption is expected to remain stable due to the limited number of animals. A smaller barley harvest is offset by larger corn harvests . This year's higher rice harvest is slightly higher than unchanged consumption. The global ending stocks increase by 23 million t and improve the supply figure to 30.7% final stocks for consumption or are sufficient for 114 days (previous year 112 days). Higher stocks are expected in Russia and Ukraine. However, the question arises as to whether and to what extent these quantities are actually available for the market. Significant increases in corn stocks are expected in Brazil. The global wheat market is estimated to have an unchanged harvest of 785 million tonnes month-on-month. In the previous year it was 803 million t. Nevertheless, taking into account the increasing consumption of 789.5 million t, the supply situation remains good with a supply figure of 39.5% (orcoarse grain market , production remains unchanged at 1,510 million t, compared to estimated consumption of 1,499 million t. Higher corn harvests in China are partly offset by cuts in the USA: Overall, there is an improvement in stocks to a good average of 23.7% final inventory for consumption or a range of 89 days. Previous forecasts for the 2023/24 world grain harvest:

The estimation results of the institutions must be interpreted against the background of different recording and evaluation methods.