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

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 ...