The U.S. Department of Agriculture (USDA) released estimates on Wednesday, October 11, 2022 that, after a summer marked by drought, production of wheat, corn and soybeans in the United States for the current season has been revised down significantly.

Compared to the USDA forecast published last month, the wheat harvest fell by 3.6 million tons compared to the previous one, 7% less. This report was released last Wednesday. Winter wheat has suffered from persistent drought in some places, particularly in Texas, Oklahoma, Nebraska, Kansas, and Colorado, which account for more than 50% of American production, in contrast to spring wheat, which resisted better than last year.

According to Gautier Le Molgat of Agritel, “Wheat production was a bit of a disappointment this year in the United States because of the drought ”. Also, the USDA cut Argentina's production estimate by 1.5 million tons (8%) for the same reasons, bringing it to its lowest level in seven years. As a result, the American maize production forecast has been significantly reduced, by 1.2 million tons. In the case of soybeans, American production has been revised downwards, by 1.7 million tons.