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.

Post maintains its estimate of Algeria’s wheat plated area at just over 2 million hectares for the entire country. For the MY 2024/25, Post projects production for wheat and barley to remain in line with the current MY of 2.7 million MT of wheat and 1.02 million MT of barley.

Corn, rice, and sorghum production forecasts for marketing year (MY) 2023/2024 are increased, while wheat production is forecast lower based on less planted area.

In response to wheat prices that have surged in recent months and to build stocks, the Government of Morocco introduced a support program for the import of 2.5 million MT of common wheat.

Weather conditions ranging from excessive heat to cooler than average temperatures, and from drought to excessive moisture, have curbed MY 2023/24 EU winter grain production expectations.

Improved weather forecasts are expected to lead to recoveries in grain production in Argentina. However, continued dry conditions are projected to limit planting of wheat and rice.