Browse Data and Analysis

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.

MY 2023/24 corn production is anticipated to increase roughly 3 percent to 6.1 million metric tons (MT) as more farmers switch to corn production in response to high prices. Post anticipates production will remain below historical levels due to high fertilizer prices and fall army worm outbreaks.

FAS/Tokyo projects reduced corn imports and feed consumption in MY2022/23 due to large outbreaks of Highly Pathogenic Avian Influenza as well as increased competition from domestic feed rice, followed by a recovery of corn consumption in MY2023/24.

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.

Post forecasts that MY2023/24 rice production will reach a five-year record of 20.4 million metric tons due to abundant water supplies and attractive farm-gate prices.

Rice export prices decreased 1 percent as new supplies of MY2022/23 off-season rice continued entering the market.

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.

Post forecasts that consumption and imports of corn, wheat and rice in Malaysia will slightly increase in Marketing Year (MY) 2023/24, in line with population growth and normalization of the market.

Rice export prices increased 1 percent.

Monthly report on crop acreage, yield and production in major countries worldwide. Sources include reporting from FAS’s worldwide offices, official statistics of foreign governments....

This monthly report includes data on U.S. and global trade, production, consumption and stocks, as well as analysis of developments affecting world trade in grains.

Rice export prices declined 1-2 percent due to the weakening of the Thai baht.