The monthly report of May 2014 released by the United States Department of Agriculture (World Agricultural Supply and Demand Estimates Report – WASDE) presents the estimates for the new season 2015-16.
Global Corn supplies are projected at 990 Mio t, slightly lower from the 2014-15 season, ending August 31. Declines are expected for the U.S., EU, Brazil, Ukraine and Mexico. Corn production is expected higher for China, South Africa, India, Canada, Russia and Argentina.
Global Soybean production for 2015-16 is projected at 317 Mio t, unchanged from the 2014-15 marketing year, ending September 30. Gains for Brazil, India, Paraguay and Ukraine are offset by reduction for the U.S., Argentina and China.
China Soybean production is projected lower as producers shift to more profitable crops.
The U.S. Corn and Soybean yield is projected lower from last year’s record, respectively 167 bushels per acre and 46 bushels per acre.