The U.S. Department of Agriculture, in the WASDE Report of October 2016, shows for the season 2016-17 the estimates of an almost unchanged global Corn production, remaining at a record high of 1025.69 Mio t, and an increasing global Soybean production (333.22 Mio t, +0.8%).
US Corn production is slightly lowered at 382.48 Mio t (-0.2% from September estimates), while Soybean production is projected higher at 116.18 Mio t, based on highered yields expectations.
The latest “CONAB” report shows an increase in harvested area for both Corn and Soybean, whose production are raised for Corn (83.5 Mio t) and are projected at a record level for Soybean (102 Mio t).
Global 2016-17 Corn ending stocks are lowered to 216.81 Mio t (-1.2% from last month), but are still very high compared to the previous years, while global Soybean ending stocks are raised at 77.36 Mio t mainly on higher Soybean stocks in the United States, Brazil, Argentina and China (the largest global producers).
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