Grain Market Report (GMR573)
Following a series of upward adjustments in recent reports, the forecast of 2025/26 world total grains (wheat and coarse grains) production is 1m t lower m/m (month-on-month), at 2,460m. The reduction primarily reflects a revised barley estimate, with minor, near-offsetting changes for other crops. Factoring in smaller opening stocks, the total supply outlook is slightly tighter than before, with forecast end-season carryovers (aggregate of respective local marketing years) pegged 3m t lower m/m, at 631m.