Argentina: Grain and Feed Update

Wheat production in marketing year (MY) 2021/22 is projected at a record 20.8 million tons, 300,000 tons higher than USDA Official. As a result, wheat exports are also forecast to be the highest in history at 14.0 million tons (including wheat flour). Barley production in MY 2021/22 is forecast at 4.8 million tons, in line with USDA Official, however, exports are forecast at 3.2 million tons, 300,000 tons lower than USDA Official on higher projected domestic consumption. Corn production in MY 2021/22 is also forecast at a record of 51.5 million tons, slightly higher than USDA Official because of marginally larger acreage. Exports are forecast at 37.4 million tons, 1.4 million tons higher than USDA Official on higher production and beginning stocks. Sorghum production in MY 2021/22 is projected at 4.5 million tons, 350,000 tons higher than USDA Official and nearly the highest in a decade in response to strong Chinese demand. Rice production in MY 2021/22 is forecast at 845,000 tons milled basis, slightly