According to IGC, Global corn/maize production for the year 2023-24 forcasted to increase by 5% (60million ton) from last year. As per IGC projection global wheat production would decline 805 million tons in 2022-23 to 783 million tons in 2023-24 decline of nearly 3%. Global total grains inventories were slightly upward revised including wheat, corn and other coarse cereals. Demand for grains will increase by 2%. Soyabean production (396 million tons) and carry over stock (62 million tons) and projected 8% and 15% up respectively (y/y). Global rice production projected to be at 523 million tons, up from an estimated 514 million tons in 2022-23.