IGC raises global 14/15 corn yield data

2014-06-04 Developments

2014-06-03 09:21 |
source: China Grain Network |
london, June 2: According to the May monthly report released by the London-based International Grain Council (IGC), the global corn production in 2014/15 is expected to be 0.9552 billion tons, higher than the 0.9502 billion tons predicted in April, but still lower than the previous year's output of 0.9697 billion tons.

IGC expects US corn production to be 0.35 billion tons in 2014/15, in line with earlier forecasts and 0.3537 billion tons in the previous year. Ukraine's corn production is expected to be 26.5 million tons, compared with an earlier forecast of 26.8 million tons and 30.9 million tons the previous year. EU corn production is expected to be 65.8 million tons, compared with an earlier forecast of 65.3 million tons and 64.5 million tons the previous year. China's corn output is expected to be 0.215 billion tons, in line with earlier forecasts, compared with 0.2177 billion tons a year earlier. Brazil's corn production is expected to be 71.5 million tons, compared with an earlier forecast of 70.5 million tons and 75 million tons the previous year. Argentina's corn production is expected to be 27 million tons, in line with earlier forecasts and 24 million tons the previous year. South African maize production is expected to be 13 million tons, in line with earlier forecasts, compared with 13.3 million tons the previous year.

IGC expects global corn consumption to be 0.9468 billion tons in 2014/15, compared with an earlier forecast of 0.945 billion tons and 0.938 billion tons the previous year. Among them, the amount of feed will reach 0.5486 billion tons, up from 0.5457 billion tons previously predicted and 0.5419 billion tons last year. The consumption is expected to be 0.1028 billion tons, compared with an earlier forecast of 0.102 billion tons and 0.1026 billion tons the previous year. Industrial consumption is expected to be 0.2584 billion tons, compared with an earlier forecast of 0.2613 billion tons and 0.2552 billion tons the previous year.

The IGC expects global corn trade to reach 0.1139 billion tons in 2014/15, compared with an earlier forecast of 0.1123 billion tons and 0.1156 billion tons the previous year. Corn ending stocks are expected to be 0.1721 billion tons, compared with an earlier forecast of 0.1629 billion tons and 0.1637 billion tons the previous year. (Source: Master Boyi