Although US grain production was hit by bad weather, global production of wheat, rice and corn have risen on the back of higher market prices — by around 10%-40% in the past 11 years.
Russia is still imposing an export cap, the Thai government is stockpiling rice, and grain supplies remain “on a razor’s edge” in the US.
China’s crop is likely to be good, but weather may damage crops in South America.
http://www.ft.com/cms/s/0/7a31a6ba-f4da-11e0-ba2d-00144feab49a.html