Global corn production is to increase up to 991.92 million tons - USDA
According to April’ forecast made by the experts at USDA, in 2014-15MY global coarse grain supplies are projected to increase by 4.2 million tons. The upward adjustment was mainly caused by increased yields of sorghum and millet in Sudan. In addition, the analysts also made few smaller changes in expected harvest volumes of corn, sorghum, and millet in several other countries of Sub-Saharan Africa.
In the current season, global production volume of forage grain may total to 1280.26 million tons; while global corn yields will amount to 991.92 million tons.
Corn production, according to the latest estimates of experts, may rise in Serbia, Mexico, and Argentina, up by 0.9 million tons, 0.8 million tons and 0.5 million tons, respectively. In the current month, just like in March, corn harvest projections for South Africa were lowered again by 2 million tons.
Global coarse grain consumption for the given period is to rise slightly, to 1265.15 million tons. This will mostly be caused by higher consumption of sorghum and millet in Sudan. Sorghum for feeding purposes projections has also been raised to 1.5 million tons, due to what higher import volumes of the grain are expected to come from the United States.
Feeding corn consumption in Indonesia, according to the latest projections, will rise another 0.4 million tons. Lower use of corn, sorghum, and barley in the United States offsets much of these increases in the countries mentioned above.
In USDA April report, global corn trade forecast has raised for 2014/15 with expected imports are higher for Indonesia, China, Iran, Algeria, Peru, and Colombia. Larger imports are expected to partly offset reduction of import of corn from Mexico.
Corn exports are raised for Argentina and Serbia, but at the same time are lowered for South Africa.
Global coarse grain ending stocks are higher with corn stocks projected up 3.2 million tons mostly on increases for the United States, Indonesia, and China.