Higher Corn export from the U.S. [Corn and Soybean - n°03/2018]

Global Corn production for the season 2017-18 is unchanged at 1041.7 Mio t, while the global Soybean production is projected down at 340.8 Mio t (-1.7% from February outlook).

Corn production decreased in Brazil (94.5 Mio t, -0.5%), on expectations of a more modest increase in second-crop corn area, and Argentina (36 Mio t, -7.7%), due to continued heat and dryness during February. Corn production is raised for South Africa, following timely rains during reproduction, India and EU-28 (61.1 Mio t, +1.7%), based on recent data for France and Germany.
In Argentina also Soybean production is expected lower (47 Mio t, -13%), due to the dry conditions through much of the growing region in January and February, more than offsetting the increase for Brazil (113 Mio t, +0.9%).

Corn Export is projected higher for the United States (56.5 Mio t, +8.5%), reflecting U.S. price competitiveness, record-high outstanding sales and reduced export for Argentina (25 Mio t, -9.1%).
Soybean export is lowered for Argentina (6.8 Mio t, -20%), the United States (56.2 Mio t, -1.7%) and Uruguay, only partly offset by a higher projection for Brazil (70.5 Mio t, +2.2%).

Global Corn ending stocks for are down from last month (199.2 Mio t, -1.9%), mostly reflecting the decrease for the U.S. (54 Mio t, -9.6%), following higher export and increased Corn used to produce ethanol.
Also global Soybean ending stocks are decreased (94.4 Mio t, -3.8%), on reduced stocks in Argentina (31.2 Mio t, -10.8%) and Brazil (21.7 Mio t, -3.3%), not completely balanced by an increment for the United States (15.1 Mio t, +4.7%).

Corn Top Exporters – Yearly trend

Source: USDA

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About CLAL Team

The CLAL.it team is composed of young people who with the help of Computer Science study the dairy market and develop tools to provide the Operators of the dairy sector with a comprehensive real-time view of the national and international market trends.