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The USDA maintained its upbeat forecast for 2021/22 global grains and oilseed production

According to Agbiz chief economist Wandile Sihlobo the 2021/22 grains and oilseed crop in the Northern Hemisphere has matured, and various regions expect a relatively good harvest. The attention will soon be shifting to the Southern Hemisphere and the essential region here is South America, a major producer of various grains and oilseeds. The concern of various analysts is how the forecast La Niña will impact the planting activity, and thereafter crops in this region, and the impact of all this in the global 2021/22 production forecasts. We think the major forecasters such as the International Grains Council (IGC) and the United States Department of Agriculture (USDA) have not fully accounted for a potential decline in crop output in this particular region.

Published: 18 October 2021