China on Friday left its 2023/24 August corn and soybean output estimate unchanged, despite flooding in the crops' important growing areas in north and northeastern China after typhoon Doksuri brought record-breaking rain.

The corn forecast remained at 282.34 million metric tons, while soybean was at 21.46 million metric tons, the Ministry of Agriculture said. Though heavy rains caused relatively serious waterlogging in some low-lying corn fields, it also relieved a drought that had been affecting the crop, the ministry said in its monthly China Agricultural Supply and Demand Estimates (CASDE).

The moisture for soybeans in key areas of northeastern China is close to, or even better than usual, and the impact of the floods is relatively small for the crop, the report said. Key numbers from the CASDE report are below. 2021/2022 2022/23 2023/24 2023/24 Percentage August July August change Estimate Forecast Forecast Corn - crop year Oct-Sept Planted 43.324 43.07 43.47 43.47 0.00% acreage (mln hectares) Output 272.55 277.2 282.34 282.34 0.00% (mln tonnes) Imports 21.89 18 17.5 17.5 0.00% (mln tonnes) Consumpti 287.7 290.51 293 293 0.00% on (mln tonnes) Exports 0 0.01 0.01 0.01 0.00% (mln tonnes) Balance 6.74 4.68 6.83 6.83 0.00% (mln tonnes) Soybean - crop year Oct-Sept Planted 8.4 10.243 10.443 10.443 0.00% acreage (mln hectares) Output 16.4 20.29 21.46 21.46 0.00% (mln tonnes) Imports 91.6 95.2 94.22 94.22 0.00% (mln tonnes) Consumpti 107.97 112.87 114.14 114.14 0.00% on (mln tonnes) Exports 0.1 0.15 0.15 0.15 0.00% (mln tonnes) Balance -0.07 2.47 1.39 1.39 0.00% (mln tonnes) Cotton - crop year Sept-Aug Beginning 7.6 7.13 7.13 7.13 0.00% stocks (mln tonnes) Planted 3.028 3 2.872 2.872 0.00% acreage (mln hectares) Output 5.73 5.98 5.78 5.78 0.00% (mln tonnes) Imports 1.73 1.45 1.85 1.85 0.00% (mln tonnes) Consumpti 7.9 7.4 7.71 7.69 -0.26% on (mln tonnes) Exports 0.03 0.03 0.01 0.03 200.00% (mln tonnes) Ending 7.13 7.13 7.03 7.03 0.00% Stocks (mln tonnes) Sugar - crop year Oct-Sept Planted 1.263 1.362 1.34 1.34 0.00% acreage (mln hectares) Cane 1.122 1.163 1.16 1.16 0.00% Beet 0.141 0.199 0.18 0.18 0.00% Output 9.56 8.96 10 10 0.00% (mln tonnes) Cane 8.7 7.88 8.9 8.9 0.00% sugar Beet 0.86 1.08 1.1 1.1 0.00% sugar Imports 5.33 3.8 5 5 0.00% (mln tonnes) Consumpti 15.4 15.6 15.7 15.7 0.00% on (mln tonnes) Exports 0.16 0.18 0.14 0.14 0.00% (mln tonnes) Balance -0.67 -3.02 -0.84 -0.84 0.00% (mln tonnes) Edible oils - crop year Oct-Sept Output 27.52 30.09 29.7 29.7 0.00% (mln tonnes) Soybean 15.94 17.7 17.71 16.02 -9.54% oil Rapeseed 5.73 7.38 6.96 6.96 0.00% Peanut 3.39 3.33 3.4 3.4 0.00% oil Imports 5.78 8.63 8.43 8.43 0.00% (mln tonnes) Palm oil 3.03 4.5 4.5 4.5 0.00% Rapeseed 0.97 1.85 1.5 1.5 0.00% Soybean 0.29 0.4 0.5 0.5 0.00% oil Consumpti 35.84 36.32 36.61 36.61 0.00% on (mln tonnes) Exports 0.15 0.18 0.27 0.27 0.00% (mln tonnes) Balance -2.69 2.22 1.25 1.25 0.00% (mln tonnes) (Reporting by Ningwei Qin, Andrew Hayley and Beijing Newsroom; Editing by Sharon Singleton)