The outlook for world total grains (wheat and coarse grains) production in 2022/23 is increased by 1m t from the November GMR, with output seen 1% lower y/y (year on year), at 2,256m. Given smaller opening inventories and higher use, the forecast for global carryover stocks (aggregate of respective local marketing years) is reduced by 3m t, to 577m, an eight-year low.