The U.S. Department of Agriculture, in the WASDE report of February 2017, shows for the season 2016-17 the estimates of a slightly increasing global production for Corn (1040.21 Mio t, +0.2% from January outlook) and a decreasing global production for Soybean (336.62 Mio t, -0.4 %).
U.S. Corn and Soybean production projections are unchanged. Ukraine production is raised both for Corn (28 Mio t, +1 Mio t from last month) and Soybean, on higher yields.
Corn production increased also for Mexico (26 Mio t, +1.5 Mio t), due to higher planted area and a lower level of abandonment following a favorable summer growing season.
Soybean production is lowered for Argentina (55.5 Mio t, – 1.5 Mio t) where heavy rain impacted the expected harvested area.
Forecast 2016-17 Corn feed and residual use for China (the second largest Corn producer with 220 Mio t/year) is raised, reflecting sharply reduced imports of Corn substitutes, relatively low internal market prices and efforts by the governments to promote use of domestic supplies. Also Chinese export of Corn-based industrial products is expected to increase.
47% of world’s 2016-17 ending stocks are expected to be held in China.
World – Corn Production, Utilization and Stocks, total and % on total
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MAIS-SOIA-FEB-2017-EN.pdf (2 MB)
Corn & Soybeans - February 2017: Report about prices, production and global trade prospects for 2016-17 season.
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