Analysts from the USDA lowered their forecast for the global wheat production in 2020/21 to 772.6 million tons (773.6 million tons in December and 763.9 million tons in 2019/20).
In the most recent report, USDA analysts lowered their forecast for world corn exports in 2020/21 to 181.36 million tons from 184.66 million tons in the previous estimate, mainly due to a decrease in corn exports for the US (-2) and Argentina (-1.5).
In their January report, analysts from the USDA lowered their forecast for the global soybean production in 2020/21 to 361 million tons (362 million tons in December and 336.5 million tons in 2019/20).
The Ministry of Agriculture of China has increased its forecast for the import of corn in the country in 2020/21 to 10 million tons, which is 42.86% more than the estimate from the previous month and 31.5% more than 2019/20.
As of January 11, 2021, Argentine farmers have gone on a 72-hour strike against the government's decision to suspend corn exports. Farmers have called on President Alberto Fernandez to reconsider the decision.
