Corn and Soybean n°7/2015: USDA lowers 2015 Corn production

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The U.S. Department of Agriculture, in the WASDE report of July 2015, shows for the season 2015-16 a decreasing global production for Corn (987.11 Mio t, -0.2%) and an incresing global production for Soybean (318.92 Mio t, +0.4%).

US corn production is expected at 343.68 Mio t, -0.7% compared to the June estimates, reflecting the lower planted and harvested areas. Soybean production is projected at 105.73 Mio t, +0.9% due to increased harvested area.

U.S. corn beginning stocks for 2015-16 are -5.2% as increases in 2014-15 feed and residual use, use in ethanol production, and exports more than offset a small increase in imports.

For the EU it is expected a decrease in corn production due to recent eccessive heat and developing dryness across major growing areas, and an increase of imports of both Corn and Soybean.