Browse Data and Analysis

Adverse weather conditions and lower domestic prices will constrain Colombia's corn production in market year (MY) 2023/2024, which is estimated to remain flat at 1.5 million metric tons (MMT).

Brazil has recently started planting its corn crop for the 2023/24 season. However, due to high production costs and lower expected earnings, profit margins are under pressure. As a result, Post predicts a decrease in planted area, with production for the next season estimated to drop from 135 MMT (MY 2022/23) to 130 MMT (MY 2023/24).

Argentine wheat production in marketing year (MY) 2023/24 is expected to drop to 14.5 million tons, 2 million tons below USDA’s official volume due to a dry environment in a vast area of the country.

FAS (Post) revises Venezuela corn and rice production higher for market year (MY) 2023/2024 due to improved access to higher-quality agricultural inputs and seeds, and favorable weather conditions.

Corn, rice, and sorghum production forecasts for marketing year (MY) 2023/2024 are increased, while wheat production is forecast lower based on less planted area.

U.S. rough rice exports have plummeted and the decline of Costa Rican rice production has accelerated sharply following the Government of Costa Rica’s August 2022 tariff rate reduction on imported rice from all origins.

Improved weather forecasts are expected to lead to recoveries in grain production in Argentina. However, continued dry conditions are projected to limit planting of wheat and rice.

The Government of Honduras implemented a new and complicated import permit system for the importation of rice and poultry that has caused major problems for U.S. shippers of these products and their customers.

With Brazil continuing to produce record corn crops, Post forecasts corn production for MY 2023/24 at 131 MMT, up 1.6 percent from the current season. However, falling profit margins and ongoing infrastructure and logistics hurdles may impact the next harvest’s outcome.

Corn, rice, and sorghum production forecasts for marketing year (MY) 2023/2024 are revised upward, while wheat production is forecast lower at 3.4 million metric tons.

The 2022 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2022 calendar year.

Post estimates Argentine wheat production to rebound to 19.5 million metric tons (MMT) in marketing year (MY) 2023/24, resulting in wheat exports of 13.7 MMT (including wheat flour as its wheat equivalent).