GAIN Reports from March 29, 2024

The following GAIN reports were released on March 29, 2024. _______   Chile: Grain and Feed Annual For MY 2024/25, Post estimates that wheat area harvested will total 195,000 hectares (ha), a 2.5 percent decrease from MY 2023/24 to due to high input costs and low prices. Wheat production will reach 1.17 million metric tons (MMT). Post estimates wheat imports in MY 2024/25 to increase by 3.6 percent over MY 2023/24 and reach 1.45 million metric tons. In MY 2024/25, Post forecasts 630,000 metric tons (MT) of corn production, a 0.3 percent increase from MY 2023/24 due to unchanged area harvested and slightly higher yields. Imports will increase by 3.5 percent and total 2.4 MMT to cover domestic consumption from the pork and poultry industry. India: Grain and Feed Annual India is gearing up for a record wheat harvest in market year (MY) 2024/2025. FAS New Delhi (Post) forecasts India's wheat production at 112.5 million metric tons (MMT), thanks to the timely and record plantings of wheat, which benefitted from favorable weather conditions from the time of planting through the reproductive growth stages. Yet, India is also set to emerge anew as an importer of wheat; imports are forecasted at 2 MMT premised on expected steady domestic demand, a decline in government-held wheat stocks, and relatively weak global prices. At the same time, India's MY 2024/2025 rice production is forecast to come in at 135 MMT, just shy of another record setting harvest. Post attributes improved production to strong domestic prices fueling higher returns for rice compared to other crops this season, which will drive farmer planting intentions. Post foresees near record corn production of 37 MMT. Mexico: Cotton and Products Annual Post forecasts marketing year (MY) 2024/25 production at 0.91 million 480-lb bales, basically flat compared to MY 2023/24 due to high input costs, drought conditions, power outages, and lack of access to new genetically engineered seed varieties. Post forecasts MY 2024/25 cotton consumption to be unchanged compared to MY 2023/24 due to remaining slow growth in domestic demand, increased competition from synthetic fibers and yarn imports from Asia, and the peso's appreciation against the dollar. Thailand: Rice Price - Weekly Rice export prices further declined 1-3 percent due to the weakening of the Thai baht against the U.S. dollar and the downward price pressure from the new MY2023/24 off-season rice supplies.   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