China: Grain and Feed Update
Link to report:
Post forecasts that, despite recent heavy rainfall in major producing provinces that has impacted quality, total wheat production in the People’s Republic of China (PRC) will be comparable in quantity to the previous year due to higher area planted and harvest completion in June. The impact of recent severe weather on PRC rice production remains to be seen but may be significant. For the first time, the PRC’s MY2022/23 wheat imports of close to 14 million tons significantly exceed the 9.636 MMT tariff rate quota (TRQ) from its World Trade Organization accession commitment. Post forecasts corn imports 2 MMT higher than Post’s April estimate as China continues to feed more corn, build reserves, and diversify suppliers. Sorghum imports for MY2023/24 are forecast to increase by 3.2 MMT to 8 MMT on higher U.S. production and competitive prices.
