Commodities
Global Grain Cushion Wears Thin Amid Record Corn Harvest
US farmers are harvesting another massive corn crop, following last year's record yield. However, despite this abundance in the top corn exporter, the global grain supply picture is less rosy.
The world has just a three-month cushion of stored grains left before stocks dwindle to critically low levels. According to some estimates, global wheat reserves could run out by 2024 if consumption continues at current rates.
Global food prices have risen in recent months due to supply chain disruptions and adverse weather conditions. In the US, corn production has surged, with yields reaching a record high of 172 bushels per acre last year.