Global coarse grain production is projected as higher due to higher production forecasts for Ukraine, Russia, and the EU, which are partly offset by a reduction for Mexico.
Barley production in Canada and Australia is also projected higher. Coarse grain exports for the October-September trade year increased by 2.3 million tons. The increased global exports are predominantly due to larger corn export forecasts for the U.S. and Ukraine, and larger forecasts for Australian and Canadian barley. Mexico is expected to take in more corn imports, and China will boost barley imports.
The U.S. feed grain forecast is unchanged at 400 million metric tons. Total feed grain supply is 439.4 million metric tons. Strong corn exports and healthy outstanding sales, particularly to Mexico, contribute to a 25 million bushel increase in the 2023-2024 U.S. corn export forecast. The corn and sorghum season-average prices remain unchanged, but barley and oats prices will rise.