USDA: global corn production will rise by 5 million tonnes in the new season

14 Jul, 2017
USDA: global corn production will rise by 5 million tonnes in the new season
According to July forecast of USDA, in 2017 – 2018 global corn production will reach 1,036 million tonnes by 5 million tonnes more than the June forecast and by 32 million tonnes less than in 2016 – 2017.

The estimate for thew US is down to 115.9 million tonnes (115.8 and 117.2) and China 14 million tonnes (13.8 and 12.9).

The global export of soybeans is almost unchanged at 149.7 million tonnes (149.06 and 145.2 tonnes). The main adjustment is for Brazil up to 64 million tonnes (63.5 and 61.5).

The ending soybean stocks in 2017-2018 will be 93.5 million tonnes (92.2 and 94.8). The index has been increased for Argentina, Brazil and China and decreased for the United States.

Crop perspecrives are improved for the US to 362.09 million tonnes (357.3 and 384.7).

Global export of corn remains unchanged at 150.8 million tonnes (150.7 and 144.5), for Brazil +0.5 million tonnes to 33.5 million tonnes (33 and 22). And for the EU 2.3 million tonnes (2.5 and 2).

The ending stocks of corn in the new season will be 200.8 million tonnes at 194.3 million tonnes in the June report. They will be 27 million tonnes less than stocks for the current season and will be the lowest from 2014-2015 until now.