According to the London-based International Grains Council (IGC), world grains production is forecast to reach a historic 2,460 Mt in 2025/26, driven by record wheat and maize harvests. Yet soybean and barley markets are showing early signs of tightening, signaling potential pressures for feed supply chains.

Global grains production for 2025/26 is projected at 2,460 Mt, the largest total in history. Despite tight opening stocks, end-of-season carryover inventories are expected to rise 45 Mt y/y, supported by strong wheat and maize harvests. Barley estimates have been revised down, while trade in maize, wheat, and sorghum is up 3 Mt, reflecting robust international demand.

Soybean production is slightly higher than previous forecasts but remains just below last year’s peak. Stocks are above average yet show modest tightening y/y, with global trade steady at 187 Mt. Rising soybean export prices (+8% in the IGC sub-index) indicate upward pressure on feed costs.

Global rice and dry peas output is at record or near-record levels, with inventories rising and trade increasing, particularly in Asia and sub-Saharan Africa. The IGC Grains and Oilseeds Index gained 4% overall, reflecting firmer prices across soy, wheat, barley, and maize.