The monthly report of December 2015 released by the United States Department of Agriculture (World Agricultural Supply and Demand Estimates Report – WASDE) shows for the season 2015-16 the estimates of a decreasing global production both for Corn (973.9 Mio t, -0.1% from November estimates) and Soybean (320.1 Mio t, -0.3%).
U.S. Corn and Soybean production is unchanged from last month. Projected production is lowered for India with reduced area and yield prospects as a result of limited monsoon rainfall. South Africa Corn production is lowered as October and November dryness has significantly delayed plantings in the higher-yielding eastern growing areas, thus reducing yield prospects.
Partly offsetting these reductions is an increase for Canada Corn and Soybean.
U.S. Corn exports are projected 1.3 Mio t lower, reflecting the slow pace of sales and shipments to date and higher projected exports for Brazil and Canada.