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Five-year baseline projections of supply and demand for wheat, maize (corn), rice and soyabeans to 2023/24

The projections outlined in this report represent a possible supply and demand scenario for the major grains (wheat and maize (corn)), rice and soyabeans for the five years to 2023/24, taking into account a number of broad assumptions.

The outlook assumes that growing conditions are conducive for yields to reach average levels and does not take account of any variability linked to particularly favourable or unfavourable weather in an individual season.

The report includes a special section on significant upward revisions to historical production estimates for maize in China. As the net increase in supply is assumed to have been mostly absorbed by greater use, the net impact for the supply and demand situation and outlook in China, and for the wider global grains economy, is negligible.

Table of contents
  • Overview 2
  • Wheat4
  • Maize (corn)6
  • China revision8
  • Rice11
  • Soyabeans13
  • Appendix Tables16