There are large supplies of cereal and record trade levels set for 2014, but world wheat production will drop by 2%, according to the Food and Agriculture Organization (FAO).
The Food and Agriculture Organization (FAO) has said that grain harvests are set to reach record levels in 2013, and wheat production is forecast to recover from last year’s reduced level.
The forecast near record wheat production this year is being
outstripped by unprecedented consumption levels, leaving export
markets tight, according to the latest outlook report from the US
Department ofAgriculture (USDA).
The 2003/04 outlook for wheat production in the United States is
very healthy according to the US Department of Agriculture. But
world wheat use is expected to exceed production.