Browse Data and Analysis

Uruguayan beef exports in 2025 are forecast to remain unchanged at 475,000 tons carcass weight equivalent (cwe). The final volume will depend on how active Chinese buyers are the remainder of the year and FOB prices. Exports to the United States are projected to remain high.

Uruguayan wheat production in marketing year (MY) 2024/2025 is forecast at 1.3 million tons, 260,000 tons lower than the previous crop season which saw record high yields. Wheat exports are projected down at 800,000 tons, 29 percent lower than the previous year.

Post forecasts Uruguay’s marketing year (MY) 2024/25 soybean up to 3.4 million metric tons (MMT) on increased soy acreage planting, driven by increased acreage in second or late crop soy due to producers fears of another dry year of La Niña weather pattern and potential disease threat to corn, preferring soy over corn.

Uruguayan beef exports in 2024 are forecast slightly up at 467,000 tons carcass weight equivalent as a result of a projected larger beef output with a marginal increase in the domestic demand.

Since December 2022, rainfall across most of Iraq has been positive, expected to result in favorable yields and increased production for winter crops wheat and barley, with rice expected to rebound this summer for marketing year (MY) 2023/24.

Post estimates marketing year (MY) 2022/2024 soybean production at 875,000 metric tons (MT), the lowest level in sixteen years due to a historic drought affecting Uruguay and neighboring Argentina. As a result, Post reduces MY 2022/23 exports to 850,000 MT.

Wheat production in marketing year (MY) 2023-2024 is forecast to remain flat at 1.2 million metric tons. Production will remain flat despite a larger harvested area as Post projects a return to trend from high yields in the previous season.

The Uruguayan beef and cattle industry is in very good economic condition. Strong foreign demand and very high export prices are benefiting all parts of the value chain with cow-calf and cattle finishing operations seeing strong, positive returns. 2023 cattle slaughter is projected at 2.56 million head, the third year in a row with high numbers.

On May 17, the Government of Iraq (GOI) announced higher purchase prices for locally-produced wheat in an effort to incentivize farmers to market their crop to the Ministry of Trade. On June 8, the GOI also passed a food security bill that allows the government to use public funds to meet urgent food needs, including issuing tenders to import wheat.

Executive Summary Global fertilizer prices are at near record levels and may remain elevated throughout 2022 and beyond. Fertilizer prices account for nearly one-fifth of U.S. farm cash costs, with an even greater share for corn and wheat producers...

Continued drought and water shortages is affecting economic activities in Iraq, especially grain production in 2022. The Iraqi Ministry of Agriculture cut agricultural cropping in irrigated areas to 50 percent less than the previous year due to shortages in surface water.

For marketing year (MY) 2022/23 Post projects continued expansion of soybean planted acreage to 1.225 million hectares (HA) and production of 2.8 million metric tons (MMT).