China cuts forecast for sugar production on 2022/2023, maintains estimate for soybean

China's Ministry of Agriculture has revised its sugar production forecast for the 2022/2023 season down by 7.2% to 9.3 million tonnes, attributing the decrease to adverse weather conditions. Despite the challenging conditions, the projections for soybean and corn crops remain unchanged at 20.29 million tons and 277.2 million tons, respectively. The report also notes a rise in corn sales as the weather improves, although there is a lack of demand from the hog and poultry sectors.