Worth noting that the article states that the current year crop is projected to be a record high:
>For cereal production, FAO projected a record world crop of 2.800 billion tonnes in 2021, up slightly from 2.788 billion estimated a month ago.
So the prices are not wholly related to production, nor mere supply and demand. The shipping container shortage, labor shortages in many countries are more significant contributors.
>For cereal production, FAO projected a record world crop of 2.800 billion tonnes in 2021, up slightly from 2.788 billion estimated a month ago.
So the prices are not wholly related to production, nor mere supply and demand. The shipping container shortage, labor shortages in many countries are more significant contributors.