China: Grain and Feed Update
Link to report:
Post forecasts China's MY2022/23 feed and residual to decrease one percent from MY2021/22. Corn production for MY2022/23 is forecast at 270 MMT, 4 MMT lower than USDA’s official forecast and 2.5 MMT lower than MY2021/22 due to lower planting area and yield losses caused by excessive rains in the northeast. Post forecasts MY2022/23 corn imports at 18 MMT and estimates MY2021/22 corn imports at 23 MMT, the same as USDA's official estimate. Brazil will be eligible to ship corn to China before the end of the calendar year, earlier than previously rumored, following the signing of a phytosanitary protocol. MY2022/23 rice production is reduced 2 MMT to 147 MMT from Post’s June estimate, due to the effects of drought and heat on mid and late-season crops. China’s broken rice imports are forecast down due to India’s export ban and a greater availability of domestic broken rice this season.