USDA Raises Global Coarse Cereals Supplies For MY 2017/18


As per the latest update from United States Department of Agriculture (USDA), the global coarse grain production for 2017/18 is forecast 0.3 million tons higher to 1,324.2 million tonnes.

This months 2017/18 foreign coarse grain outlook is for lower production andconsumption and greater trade relative to last month. Foreign corn production is forecast lower with reductions for Russia, Vietnam and the Philippines more than offsetting an increase for Pakistan. Russias corn production is down based on harvest results to date.

Vietnam corn production is reduced as the impact of heavy rain during the growing season in the northern production area was worse than previously expected. Barley production is down as a reduction for Russia more than offsets an increase for Argentina.

Major global trade changes for 2017/18 include lower corn exports for Russia, partially offset by an increase for Thailand. Brazils 2016/17 corn exports are reduced based on observed shipments to date for the local marketing year that started in March 2017. Imports for 2017/18 are lowered for Iran but increased for Vietnam and the Philippines. Foreign corn ending stocks are higher than last month, mostly reflecting increases for Brazil and Pakistan. Global corn stocks, at 206.6 million, are up 2.5 million from last month.

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