The International Grains Council, the London-based entity set up in the late 1940s for pooling grain output data internationally, reports that the world’s total grains (all kinds) annual output is projected to remain in the same range from the last trade year, 2022-23, when it was 2.25 bil metric tons, to the 2023-24 trade year, when it may reach 2.29 bil tons. The bump up is from an expected higher corn/maize crop.
Consumption for the trade year 2023-24 trade year Is projected at 2.31 bil tons, which presmes a drawdown of grain stocks, to the level of 577 mil tons of carryover. This is 3 mil tons lower than the year before.
