The USDA revises its forecasts for world cereal production downwards
Published Dec 13, 2022
Tridge summary
In its December report, the United States Department of Agriculture (USDA) revised its previous forecast for world cereal production 2022/23 downward by 7.9 million tons, which now stands at 2,234.2 million tons. . Specifically, in the case of coarse grains, the USDA has revised downward world production by 5.9 million tons, with which a harvest of 1,453.6 million tons is expected.
Original content
Ukraine is responsible for this decrease, since production is estimated at 34.4 million tons, 4.5 million tons less than in last month's report. It also drops 1 million tons (41 million tons) in Russia. Regarding wheat, the USDA also revised its world production forecast downward by 2 million tons for the current 2022/23 season compared to the November report. In total, a world harvest of 780.5 million tons is expected (compared to the 782.6 million it handled in the previous report). Argentina is one of those responsible for this drop, since a production of 12.5 million tons is estimated, 3 million tons less than in last month's report. This cut is mainly due to the drought suffered by this country. It also decreases in Canada 1.1 million tons (33.8 million tons). Likewise, it should be noted that within coarse grains, the USDA has revised the world barley harvest slightly upwards by 149.5 million tons, that is, 530,000 more tons. Oats also increased slightly by 450,000 tons, ...
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