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Export and domestic rice prices increased one percent due to continued demand for Thai rice and attractive prices.

With Brazil continuing to produce record corn crops, Post forecasts corn production for MY 2023/24 at 131 MMT, up 1.6 percent from the current season. However, falling profit margins and ongoing infrastructure and logistics hurdles may impact the next harvest’s outcome.

Post revised its estimates for the Vietnam marketing year 2022/2023 (MY 2022/23) paddy harvest area and production forecast down to 7,162 thousand hectares (THA) and 43.15 million metric tons (MMT).

Based on the Government of Pakistan’s (GOP) first official assessment, the 2023/24 wheat production forecast is increased to a record 28.0 million tons.

Good conditions at planting and during the early growth phase for wheat and barley production have prevailed for marketing year (MY) 2023/24. However, after a record setting winter crop in MY 2022/23, Australia is expected to produce a strong but more subdued grain crop in MY 2023/24.

New inquiries from foreign buyers drove rice export rice prices slightly higher.

Corn, rice, and sorghum production forecasts for marketing year (MY) 2023/2024 are revised upward, while wheat production is forecast lower at 3.4 million metric tons.

Export and domestic rice prices decreased despite the strengthening of the Thai baht.

Monthly report on crop acreage, yield and production in major countries worldwide. Sources include reporting from FAS’s worldwide offices, official statistics of foreign governments....

This monthly report includes data on U.S. and global trade, production, consumption and stocks, as well as analysis of developments affecting world trade in grains.

Rice export prices increased 1-3 percent due to the strengthening of the Thai baht.

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.