US Corn Exports up on Reduced Competition and Increased Trade
22 February 2012
GLOBAL - World corn trade in 2011/12 (October-September) is projected to reach 95.6 million tons, up 1.0 million this month.
EU imports are forecast up 1.0 million tons to 4.0 million as the pace of import licenses shows that there is demand for imported corn despite increased production this year.
Brazil’s corn imports are increased 0.3 million tons to 0.8 million based on shipments from Paraguay. South Africa’s imports are up 0.2 million tons as it is importing yellow corn due to tight supplies and high internal prices while continuing to export white corn.
Corn imports are up by smaller amounts for Chile and the United States. These increases are partly offset by Canada’s corn import reduction of 0.4 million tons to 1.0 million.
Canada’s stock report revealed weaker than expected demand for corn in early 2011/12.
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February 2012
TheCropSite News Desk
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