Grain Harvest Sets Record, But Supplies Still Tight
Following several years of declining harvests, the world’s farmers reaped a record 2.316 billion tons of grain in 2007. Despite this jump of 95 million tons, or about 4 percent, over the previous year, commodity analysts estimate that voracious global demand will consume all of this increase and prevent governments from replenishing cereal stocks that are at their lowest level in 30 years.