Browse Data and Analysis

Argentine wheat production in marketing year (MY) 2023/24 is expected to drop to 14.5 million tons, 2 million tons below USDA’s official volume due to a dry environment in a vast area of the country.

The General Food Security Authority (GFSA), an agency of the Saudi Ministry of Environment, Water and Agriculture (MEWA), purchased approximately 1.2 million metric tons (MMT) of locally produced wheat in MY2022/23.

Owing to improved weather conditions, Turkey’s grain production in marketing year (MY) 2023/24 is forecast to reach a record 36.0 million metric tons (MMT).

The U.S.-Japan Trade Agreement (USJTA) entered Year 5 of the agreement implementation on April 1, 2023.

Post forecasts China's MY2023/24 grain feed and residual use to increase slightly and corn production also slightly higher due to a larger planted area and improved yields.

Post estimates marketing year (MY) 2023/24 wheat consumption to decrease to 4.5 million metric tons (MMT) or 10 percent from USDA's official estimate.

FAS/Tokyo estimates lower MY2023/24 rice production in Japan as extremely high temperatures and little rain are expected to lower yield and quality.

Recent available data indicates that Saudi Arabia imported approximately 2.7 million metric tons (MMT) of barley in the first six months of MY 2022/23 (July – December 2022), an increase of approximately 11% compared to the same period last year (2.46 MMT).

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.

Post forecasts MY 2023/24 wheat production at 3.3 million metric tons (MMT) and barley production at 1.4 MMT, in line with the previous season as climatic conditions are similar.

FAS Tel Aviv (Post) forecasts Israel’s wheat imports to reach 1.70 million metric tons (MMT) in marketing year (MY) 2023/24, a 2.8 percent decrease from Post’s MY 2022/23 figure.

FAS/Tokyo projects reduced corn imports and feed consumption in MY2022/23 due to large outbreaks of Highly Pathogenic Avian Influenza as well as increased competition from domestic feed rice, followed by a recovery of corn consumption in MY2023/24.