• Grain – In 2024/25, the global grain production is projected at 2,311 million tons (2,315 in October and 2,308 in 2023/24), consumption at 2,332 million tons (2,328 and 2,319), and ending stocks at 576 million tons (584 and 596).

• Wheat – The global wheat production this season is expected to reach 796 million tons (798 and 795), consumption at 805 million tons (804 and 807), and ending stocks at 263 million tons (266 and 272).

• Corn – In 2024/25, the global corn production is forecasted at 1,225 million tons (1,224 and 1,231), consumption at 1,235 million tons (1,231 and 1,226), and ending stocks at 275 million tons (279 and 285).

• Soybeans – The global soybean production in 2024/25 is projected at 419 million tons (421 and 396), consumption at 408 million tons (406 and 387), and ending stocks at 82 million tons (86 and 71).

Overall, there is a significant decline in ending stocks across all crops. The drop in stocks for wheat and corn is particularly evident this season. The market has not yet become tense enough to trigger a significant price increase, but another disruption in a major producer could cause it. Export sales of wheat, corn, and soybeans from the United States are performing strongly this season, something not seen in a long time. Oil prices have started to fall, which has immediately impacted rapeseed and canola. It is likely that sunseed prices will also halt their upward trend for now.