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Post increased the MY2023/23 rice production forecast to 19.9 MMT to reflect greater water availability than previously projected for the MY2023/24 off-season rice crop. The forecasts for MY2023/24 corn production and imports and MY2023/24 wheat...

Export rice prices increased 3-13 percent due to the strengthening of the Thai baht which offset the downward pressure on domestic rice prices.

Information in this report was current as of September 27, 2023. Post forecasts China's MY2023/24 grain feed and residual use to increase slightly and corn production also slightly higher due to a larger planted area and improved yields.

Export rice prices fell by 1-3 percent as the Thai baht weakened and new paddy rice crop entered the market.

Export rice prices rose 1-2 percent due to the strengthening of the Thai baht.

Rice production in Korea is forecast to be gradually down in marketing year (MY) 2023/24 on reduced acreage in response to government incentives encouraging farmers to switch to other grains, such as wheat and soybean.

Export rice prices dropped 1-3 percent despite the strengthening of the Thai baht as the new crop MY2023/24 paddy rice entered the market.