Grain: World Markets and Trade
Exportable Supplies of Corn, Wheat, and Rice Expand With
Record Global Production
Record global corn production in 2013/14 is, expected to pressure prices substantially., Consequently, feed use is forecast to climb, sharply., Global corn production isforecast up 109 million, tons (13 percent) on the basis of record crops in, the United States, Argentina, China, and Ukraine., Record global corn consumption is driven, primarily by the United States and China, where, feed demand remainsstrong., With prospects for a record U.S. crop, global, corn stocks are currently expected to be, replenished to the highest level in over a decade., For wheat, record production and ample, exportable supplies in the EU, Kazakhstan, Russia, and Ukraine are partially offset by a, smaller U.S. wheat crop. High early-season, prices are expected to stimulate additional, plantings in Argentina, Australia, and Canada., Global consumption is also expected to rise as a, result of increased animal feeding and population, growth. Global ending stocks are forecast to rise, slightly., Record rice production, coupled with abundant, and growing stocks, is expected to pressure, prices downward. Consumption is also at a, record level, with continued growth in China and, India. Government policies, especially in, Thailand, will continue to impact global market, dynamics.