Global projections for the corn and soybean season in 2022/2023

Published 2023년 3월 17일

Tridge summary

The USDA has released grain and oilseed forecast reports for the 2022/23 campaign, predicting a global drop in corn production by 5.6% to 1,147.5 million tons, with the United States seeing an 8.9% decrease to 348.8 million tons. However, Brazil's production is expected to grow by 7.8% to 125 million tons. World grain exports are projected to fall by 15.1% due to declines in the European Union, United States, Argentina, and Ukraine. Meanwhile, soybean production is anticipated to increase by 4.7% to 375.1 million tons, led by a 18.1% rise in Brazil's production. Export activity is expected to be dominated by Brazil, with an increase of 17.2% to 92.7 million tons, while the United States is projected to see a drop of 6.6% to 54.8 million tons. Ending stocks are expected to fall in some countries like the United States, Argentina, and the European Union, but rise in Brazil and China.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Here are highlights from the latest USDA grain and oilseed forecast reports released on March 8: World corn production will reach 1,147.5 million tons (Mt), a value that means a 5.6% drop in relation to the 2021/22 campaign (1216.0 Mt). For the United States, production is expected to be around 348.8 Mt, falling 8.9% in relation to the previous season (382.9 Mt), while China is expected to increase its production by 1.7%, reaching 277.2 Mt. For its part, the European Union is expected to drop 23.6% with 54.2 Mt, while Ukraine, with 27.0 Mt, will show a drop of 35.9%. For Brazil, the projection of 125 Mt was maintained, which represents a growth of 7.8% in relation to the previous season, while for Argentina a sharp cut was again made, which would put production at just 40 Mt (which would be the lowest in the last 5 years), which represents a drop of 19.2% compared to the 2021/22 cycle. World grain exports would fall by 15.1%, from 205.7 Mt in the 2021/22 campaign to 174.7 Mt in ...

Source: 3tres3