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On August 23, 2019, the People’s Republic of China’s Ministry of Finance (MOF), State Council Tariff Commission (SCTC) announced new tariffs on certain U.S. products, valued at $75 billion USD.
Rice consumption continues to decline due to a shrinking population and reductions in per capita consumption.
Corn production in 2019/20 is up 20 million tons from July’s projection to 250 million tons, as area harvested and yield are adjusted higher.
Egypt wheat production is still forecast at 8.77 MMT in MY 2019/20, up from 8.45 MMT in MY 2018/19 due to expansion of total area harvested.
Japan’s Ministry of Agriculture, Forestry, and Fisheries (MAFF) confirmed Japan’s first outbreak of Spodoptera frugiperda, or Fall Armyworm (FAW).
While a dry spell caused marginal damage on rice and corn production in MY2019/20, the impact of fall armyworm infestation adversely affected corn production to a greater extent.
While U.S. corn exports have fallen recently, exports of products produced from corn have rapidly increased.