Browse Data and Analysis

Post forecasts 2022/2023 corn production at a record 126 million metric tons (MMT) based on the growing demand and price for corn both in domestic and international market. This is up 8.6 percent on the 2021/2022 production estimated at 116 MMT.

This report contains Post’s production estimates for marketing year (MY) 2022/23, as well as final export numbers for MY2021/22. Production is down sharply as a result of Russia’s invasion of Ukraine and the impact on agriculture. Domestic consumption for all grains (both feed and food) went down as a combination of migration out of the country, decreased disposable incomes, and destroyed animal production facilities in the areas of military activity.

FY2022 agricultural exports reach record levels.

Post forecasts that South Africa’s corn area will stay flat in marketing year 2022/23. The current high input cost environment and an upsurge in soybean plantings are deterring any bullish outlook in expanding corn area, despite record high commodity prices and three consecutive bumper crops. Higher farming input costs are escalating the risk of production in a weather-dependent industry.

On September 8, 2021, the Indian government raised its minimum support prices (MSP) for the select rabi (winter-planted) crops, including wheat. FAS New Delhi (Post) forecasts marketing year (MY) 2022/2023 (October-September) rice production at 122 million metric tons (MMT), down six percent compared to last year, due to unseasonal rains in October resulting in water lodging as the rice crop nears harvest.

FAS/Bangkok (Post) revised down MY2022/23 rice production slightly to 19.9 MMT due to flood damage on main-crop rice production. MY2022/23 corn production and imports, as well as wheat imports, remain unchanged from the previous forecast.

Post forecasts that South Africa’s wheat imports for the 2018/19 MY will decline marginally to 1.8 million tons, on an expected increase in local production.

Peruvian wheat production is all consumed domestically. Wheat imports in MY 2018/19 are forecast at 2.06 MMT.

Wheat consumption in the Dominican Republic (DR) during Marketing Year (MY) 2018/2019 (July 2018/ June 2019) is forecast at 410,000 metric tons (MT), with imports remaining strong at 540,000 MT.

Chile’s wheat planted area for the past ten years has stabilized showing small variations in response to prices and farmers’ short-term expectations.

Pakistan continues to make significant progress towards implementing a full-fledged biotechnology and seed regulatory structure that is expected to facilitate the introduction of new seed....

High prices for Japanese table rice led to Japan’s full utilization of the simultaneous buy and sell quota (100,000 MT), and are expected to lead to continued opportunities in the coming year.