The monthly report of June 2014 released by the United States Department of Agriculture (WASDE) confirms the overall forecasts made in May 2014 on the global production and trade of Corn and Soybean for the new season 2014-15.
In Ukraine and Russia the expected yields of the areas dedicated to Corn are expected higher, as the latest trade data confirm further expansion in the use of imported hybrid seed corn.
U.S. crop conditions are better that any time since 2007 for the Corn Belt, the most intensively agricultural region of the Midwest.
U.S. lower beginning stocks (-3.7% from last month forecasts) reflect a higher crush projection for 2013-14.
Estimates of Soybean record crops for the U.S. and Brazil, the major Soybean Producers, have been confirmed.
In the European Union Corn production (especially in Germany and Central Europe) and Soy production (of which the E.U. is one of the main Importers) are expected to increase.