Total Pageviews

Translate

Monday 27 May 2013

CORN OVERVIEW FOR 2013/14

Global coarse grain production is forecast to soar 125 million tons, led by a record U.S. corn 
crop. South America, although down, is still expected to have near-record production. With 
global coarse grain consumption forecast to climb by over 80 million tons (about half of this is
corn for feed), stocks would grow by over 30 million tons, ending a 3-year slide.
Higher coarse grain exports come principally from Black Sea countries as the United States
gains--and South America loses--about 15 million tons of trade. China leads the growth in 
imports, primarily as lower world prices increase corn trade. United States and EU imports are 
sharply lower on improved domestic production prospects. 
Global corn production is forecast at a record 966 million tons, up nearly 110 million with 
recovery expected in the United States following last year’s drought-decimated crop. Global 
consumption is projected to climb almost 75 million tons to a record 937 million. While the 
boost in global production is largely in the United States, growth in consumption is split 
between U.S. and foreign markets, particularly China. Corn used for ethanol in the United 
Statesis up from last year, although forecast lower than the peak seen 2 years ago. 
World corn imports are expected to be stronger with most of the additional demand coming from
China; demand in the United States and EU will be sharply lower because of larger crops. 
World barley production is forecast to recover to the highest level in 4 years. Trade is forecast 
slightly lower because of greater availability of other feed grains. Australia is expected to return 
as the largest barley exporter. Argentine exports are forecast down for the first time in 4 years as 
farmers reportedly shift back to wheat. EU exports are also lower as competition intensifies with
Australia and Russia and as import demand from the Middle East and North Africa declines
slightly. 

No comments:

Post a Comment