The United Nations Food and Agriculture Organization estimates that the world’s 2017/18 grain crop is expected to hit 2.646 billion tonnes, up 1.3 percent from the previous season.
Global demand is expected to reach 2.612 billion tonnes, up 1.5% from the 2016/17 cycle.
In turn, world inventories are expected to reach 748.2 million tonnes, up 3.9% over the previous period.