The U.S. Department of Agriculture, in the WASDE report of July 2016, shows for the season 2016-17 the estimates of a slightly decreasing production for Corn (1010.74 Mio t, – 1.03 Mio t) and an increasing production for Soybean (325.95 Mio t, +2.25 Mio t).
Corn production is lowered for Brazil (-2 Mio t) and Canada (-1.3 Mio t) based on lowered yields expectations. Soybean production is projected higher for the European Union (+0.05 Mio t) and Canada.
U.S. Corn production for 2016-17 is expected to increase (+2.79 Mio t) with more planted and harvested areas. Also Soybean production is projected higher at 105.60 Mio t due to increased harvested area, which is forecast at a record 83.0 million acres.
Global 2016-17 Corn ending stocks are expected to increase (+3.27 Mio t) with higher expectations for China (+2.1 Mio t), U.S. (+1.85 Mio t) and Indonesia. Also Soybean ending stocks are projected higher (+0.79 Mio t) reflecting the increase for the U.S. more than offsetting a decrease for Brazil.
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