The U.S. Department of Agriculture, in the WASDE report of April 2017, shows for the season 2016-17 the estimates of an increasing global production both for Corn (1053.76 Mio t, +0.4% from last month outlook) and Soybean (345.97 Mio t, +1.5%).
Corn production increases in Brazil (93.5 Mio t, +2.2%), primarily on larger projected second crop area, and Argentina (38.5 Mio t, +2.7%), on better-than-expected yields.
The higher Soybean production is in South America: Brazil (111 Mio t, + 3 Mio t from last month estimates), Argentina (56 Mio t, +0.5 Mio t), Paraguay (10.10 Mio t, +0.9 Mio t) and Uruguay.
U.S. Corn outlook shows an increase in Corn used to produce ethanol (+0.9% from March outlook), offset by a reduction in feed and residual use (-0.9%).
Global trade outlook projects higher exports for Brazil and Argentina (respectively 32 Mio t and 26 Mio t), with increases competition from these countries expected to impact the 2017-18 marketing year in the U.S.
Soybean imports are raised for China (accounting for 63% of world Soybean export) and EU (accounting for 10%), corresponding to higher global Soybean export (143.3 Mio t).
Global ending stocks are raised both for Corn (222.98 Mio t, +1%), with increases for Mexico, Brazil, Indonesia and Argentina, and Soybean (87.41 Mio t, +5.5%), on increases for United States, Argentina, Brazil and China. If realized, the data about global Soybean ending stocks will be a new historical record.