The U.S. Department of Agriculture, in the WASDE report of June 2017, shows for the season 2017-18 the estimates of a decreasing global Corn production (1031.86 Mio t, -0.2% from May estimates) and an almost unchanged global Soybean production (344.67 Mio t).
Projected U.S. Corn production is unchanged from last month at 357.27 Mio t, and -7.1% from the current marketing year, ending August 31.
EU Corn production is -2.4% based on government data indicating lower-than-expected area in France and Germany, and +2.1% compared with 2016-17 season.
Compared to the current marketing year, ending September 30, global Soybean production is projected lower (-1.9%), with reductions in the 3 largest Producers: U.S. (-1.2%), Brazil (-6.1%) and Argentina (-1.4%).
Major global Corn trade changes for 2017-18 include higher projected exports for Ukraine and Russia, with increased imports for the EU-28 (from 14 Mio t to 15).
Corn ending stocks are lowered from last month, at 194.33 Mio t, down on both May forecasts (-0.5%) and the current marketing year (-13.5%). Soybean ending stocks are projected at 92.22 Mio t, +3.1% from last month estimates, but -1.1% from the current season.
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