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Wheat production in marketing year (MY) 2021/22 is projected at a record 20.8 million tons, 300,000 tons higher than USDA Official.
As countries roll back COVID-19 restrictions, foreign market demand for beef is becoming a bright spot for U.S. producers.
With the MY 2020/2021 harvest season almost complete, Post lowers its soybean production estimate 500,000 tons, to 44.5 million metric tons (MMT), 2.5 MMT below USDA Official.
Post adjusted the Marketing Year (MY) 2020/21 crude palm oil (CPO) production forecast down by 8,000 tons to 18.7 million tons. COVID-19 has caused acute labor shortages as the Government of Malaysia (GOM) halted the intake of new foreign workers indefinitely, while allowing foreign workers with expired work permits to return home, thus exaggerating the labor issues.