FAO Predicts 3.5% Decline in Global Grain Trade for 2026/27 Season
The Food and Agriculture Organization of the United Nations (FAO) has forecasted a decline in global grain trade for the 2026/27 season. According to the organization, the total grain trade is expected to reach 505.8 million metric tons, down 3.5% from last year.
The downward revision is attributed to shipping difficulties through the Black Sea and insufficient capacity on alternative transport routes. This has led to a decrease in wheat and corn export forecasts. On the other hand, an upward revision to the barley trade forecast has partially offset the lost volumes.
Forecasts for corn exports from the European Union have been lowered due to reduced supply from Ukraine, while Australia's increased export capacity has boosted the barley trade forecast. Kazakhstan's improved wheat export forecast has not fully compensated for the decline in shipments from Russia and Ukraine.