Wasde Report- January edition

As per latest WASDE report released on 12^th January,2023, the projection for 2022–2023 shows decreased production, food, seed, and industrial (FSI), feed, residual use, exports, and ending stocks for U.S. corn. A 1.6 million acre reduction in harvested area more than offset an improvement in yield, bringing the expected corn production down by 200 million bushels to 13.730 billion bushels. Reduced by 185 million bushels to 13.915 billion, total corn consumption. Due to the poor rate of shipping through December, exports are decreased by 150 million bushels to 1.925 billion. Corn stocks for 2022–23 is reduced by 15 million bushels because supply is decreasing faster than consumption. China's corn production is expected to expand, somewhat offsetting Argentina and Brazil's losses in foreign corn production. Argentina's production is down due to decreases in area and yield brought on by heat and dry conditions in December and early January that dampen maize planting prospects in the country's important central growing regions. Due to the dry circumstances for first-crop corn in several areas of southern Brazil, Brazil's corn production for 2022–2023 has been reduced. According to the most recent area and yield data, corn production in China is greater.