GAIN Reports from January 31, 2023

The following GAIN reports were released on January 31, 2023. _______     Argentina: Oilseeds and Products Update Dry weather and high temperatures in the last months of 2022 have damaged the Marketing Year (MY) 2022/23 Argentine soybean crop, particularly affecting first crop soybeans within a 125 kilometer radius of Rosario, Santa Fe Province. Recent rains will buy time for second crop soybeans, but better-than-average weather through February is needed for a substantial recovery. Post lowers its MY 2022/23 estimated production to 36 million metric tons (MMT), 9.5 MMT below the official USDA estimate. The drought is also affecting sunflowerseed and peanut production to a lesser extent. Post estimates sunflowerseed production at 4 MMT on lower-than-expected yields in northern production areas. Peanut production is lowered to 1.05 MMT on smaller-than-expected planted area and anticipated lower yields.   Brazil: Grain and Feed Update Brazil is set for another record-breaking grain harvest. Post maintains its corn planted area forecast at 22.5 million hectares for MY 2022/2023 and corn production is forecast at 125.5 MMT for MY 2022/2023, up 8 percent from the estimated 116 MMT for MY 2021/2022. Post maintains its forecast for corn exports for MY 2022/2023 at 47 MMT, based on the continued interest in international markets. Post reduces the forecast for rice planted area for MY 2022/2023 to 1.53 million hectares, based on continued loss of profitability of rice crops in Brazil and high maintenance costs. For MY 2022/2023, milled rice production is forecast at 7.2 MMT of milled rice equivalent (MRE), a 1.4 percent drop from 2021/2022. Brazil is expected to reach record wheat production. Post forecasts wheat production for MY 2022/2023 at 9.6 MMT and raises its forecast for wheat export in MY 2022/2023 to 3.5 MMT on a wheat grain equivalent basis (WGE), up 6 percent from its previous estimate.     For more information, or for an archive of all FAS GAIN reports, please visit gain.fas.usda.gov/. Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need to use your email address to log in. If you have questions or problems with the subscription service, please visit subscriberhelp.govdelivery.com. This service is provided to you at no charge by USDA Foreign Agricultural Service. This email was sent to stevenmagallanes520.nims@blogger.com using GovDelivery Communications Cloud on behalf of: USDA Foreign Agricultural Service · 1400 Independence Avenue, SW · Washington, DC 20250