The monthly report of April 2016 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 an increasing global production for Corn (972.13 Mio t, +2.49 Mio t from March estimates) while the global production for Soybean remains unchanged.
Argentina production is raised both for Corn and Soybean (respectively +1.0 Mio t and +0.5 Mio t). Corn production is increased also for Mexico and Serbia (+0.5 Mio t) while Soybean production is lowered for India (-0.5 Mio t), on reduced harvested area and yield.
EU Corn imports are lowered 1 Mio t, on a slowing import license pace and large, competitively priced Wheat supplies, which are expected to support greater domestic Wheat feeding.
U.S. Soybean exports are increased (+0.41 Mio t), reflecting stronger global Soybean imports led by China (from 82 to 83 Mio t).
China Corn feeding is raised, offsetting a decline in Wheat as internal market prices are expected to favor Corn. China ending stocks are lowered 2 Mio t.