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In February 2025, crop conditions remained generally favorable across most of the globe with some pockets of concern, most notably for maize in South America where above-average temperatures are forecasted, raising the risk of heat stress during the crop's reproductive development. Compared to February 2024, maize prices were almost 25 percent higher, while rice prices reached two year lows. FAO’s preliminary forecast for global wheat production in 2025 indicates a modest increase, with the world output projected at 796 million tonnes, a near 1 percent year on-year rise. Markets continue to be affected by uncertainty regarding international trade relations, with trade policy changes in the United States triggering responses from partners and potentially altering the global trade landscape.

This document outlines the best practices for the targeting of social programs, highlighting the key policy decisions involved and identifying factors to consider when making these decisions.

Except for maize, where international export prices reached a 15-month peak amidst supply concerns, global prices of AMIS crops are currently lower than they were a year ago. However, concerns about winter wheat crop conditions in parts of the EU, the Russian Federation, Ukraine, and North America provide support to quotations in some origins.

Markets are also watching for potential changes in US trade policies and the responses from trading partners. This month's feature article reveals no evidence of long-term global yield growth deceleration. Instead, slow yield growth in certain commodities, regions, or countries appears to have been offset by accelerated growth elsewhere.

Yet, caution is in order: Global temperatures in 2024 were the warmest since records began in 1850, necessitating developments of cultivars resilient to temperature and precipitation variations.