The monthly report of January 2017 released by the United States Department of Agriculture (World Agricultural Supply and Demand Estimates Report – WASDE), shows the estimates of a slightly decreasing global Corn production (1037.93 Mio t, -0.2% from last month outlook) and an almost unchanged global Soybean production (337.85 Mio t).
U.S. production is lowered for Corn (384.78 Mio t, -0.5%) on lower harvested area and yields. Also Soybean production is decreasing (117.21 Mio t, -1.2%) but it is still projected to be a record high as well as yields.
Corn used to produce ethanol is raised at 13.5 Mio t, the amount of Corn used during September-November is estimated to be an historical record.
Corn production is projected higher in Serbia, partly offsetting the lower Corn production for Bolivia where the impact of a severe drought during the growing season was worse than previously expected. The largest change in Soybean production is a 2.0 Mio t increase to 104.0 Mio t for Brazil, where beneficial rain has resulted in improved yield prospects.
Corn export is lowered for India, more than offset by increases for Serbia and EU (2.0 Mio t, +0.2 Mio t from December outlook) while Soybean export is projected higher for Brazil (59.5 Mio t, +1.1 Mio t) with decreases in Bolivia and Uruguay.
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