Browse Data and Analysis

Uruguay’s corn production is forecast to reach a record 1.8 million tons, as favorable margins and low pest impact encourage a return to planting. Wheat exports are projected down to 750,000 tons due to reduced area and competition from more...

After hitting bottom during the previous season, Spain’s fodder production and exports are set to recover in MY 2024/25. A combination of higher area and yields are projected to bring fodder production to average levels.

Following three consecutive seasons of tight supply, favorable fall and winter conditions have been followed by abundant spring precipitation across Spain, with the notable exception of the eastern part of the country.

Uruguayan wheat production in marketing year (MY) 2024/2025 is forecast at 1.3 million tons, 260,000 tons lower than the previous crop season which saw record high yields. Wheat exports are projected down at 800,000 tons, 29 percent lower than the previous year.

For MY 2023/24, lower area and poor yields are expected to push production levels well below the previous year’s levels.

Several Spain grain supply chain actors have released their first estimates for grain production for MY 2023/24 and concur with the poor crop prospects.

Spain is facing a second consecutive year of poor grains crops. While northernmost grain producing areas still hold production potential, yields in the country’s southeast are estimated to have declined significantly.

Wheat production in marketing year (MY) 2023-2024 is forecast to remain flat at 1.2 million metric tons. Production will remain flat despite a larger harvested area as Post projects a return to trend from high yields in the previous season.

Competition by other crops continues to force Spain’s fodder area down. In MY 2022/23 the dry spring is anticipated to have negatively affected yields in non-irrigated land. On the processor side, energy prices will keep forcing margins down.

For MY2022/23, initially good crop prospects after the abundant rains in April were negated by above average temperatures registered in May and June. In-country grain demand remains relatively stable, driven by the recovery of the tourism sector, despite the somewhat lower livestock products exports and the grain prices hike.

In 2021, Chinese imports of alfalfa pellets hit record levels of 52,254 metric tons (MT) and $13.66 million by value, increases of 62 percent and 70 percent respectively. The market is dominated by Spanish-origin pellets.

In marketing year (MY) 2022/2023 Post forecasts Uruguay to increase its wheat area somewhat, but production and exports would be marginally lower than in the past two marketing years due lower expected yield.