Browse Data and Analysis

In marketing year (MY) 2023/24, Post forecasts wheat area harvested will reach 215,000 hectares (ha) and production will total 1.32 million metric tons (MMT), unchanged from MY 2022/23 as production was limited by the high costs of inputs.

Wheat production in marketing year (MY) 2023-2024 is forecast to remain flat at 1.2 million metric tons. Production will remain flat despite a larger harvested area as Post projects a return to trend from high yields in the previous season.

Due to continued elevated agricultural input costs, Mexico’s corn production in marketing year (MY) 2023/24 is forecast at 27.4 million metric tons (MMT), unchanged from the year prior. Lower than expected planting intentions data accounts for slightly lower rice and wheat production forecasts.

In marketing year (MY) 2023/24, Colombia's corn and rice production are forecast to marginally increase driven by higher domestic prices and expected normalized weather conditions. However, high production costs continue to be a challenge for Colombian producers.

In 2022, the Government of Ecuador continued to support floor prices for local production of corn, rice, and wheat as well as began subsidizing the price of fertilizers for small producers.

On February 13, 2023, Mexico published a modified 2023 Corn Decree in the Diario Official Federal (DOF). The new Presidential decree abrogates the 2020 GE Corn Decree and is immediately effective on February 14, 2023.