World Corn production for the 2019-20 season, which began on September 1, 2019, is estimated at 1104.01 Mio Tons, lower from the record level anticipated in the recent forecasts.
Production is expected to decrease by 1.7% compared to the previous season, reflecting lower production in the United States (due to a decline in harvested area) and China, the main world producers. Corn production is forecast unchanged for Brazil and slightly higher for the EU-28 (+0.9%).
U.S. Corn used for ethanol is lower based on weekly production data as reported by the Energy Information Administration.
World Corn exports for the 2019-20 season are expected at 169.9 Mio Tons (-6.3% compared to the 2018-19 season). A decrease in exports is estimated for the 4 main players (United States, Brazil, Argentina and Ukraine), which account for 87% of the market share.
The European Union, the main importer of Corn, in the new 2019-20 season should reduce its purchases (-15.3%).
The growing trend of Mexican imports continues (+ 4.8%).
Data for the first seven months of 2019 of Italian imports of Corn recorded an overall increase of +9.5% y-o-y and showed strong growth from Hungary (+13.9%) and Slovenia (+273.4%), which more than offset a decrease in volumes imported from Ukraine (-13.6%).