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USDA Grains: World Markets and Trade


13 May 2015

USDA Grains: World Markets and Trade - May 2015USDA Grains: World Markets and Trade - May 2015


USDA Grains: World Markets and Trade Reports

Near-Record Grain Supplies Support Growing Global Consumption

Global corn production in 2015/16 is projected down from last year’s record, with lower forecasts for the United States, EU, Brazil, and Ukraine. Global corn consumption is expected to climb just above production for the first time in 5 years. Global ending stocks are forecast mostly unchanged, with U.S. and foreign stocks declines nearly offset by growth in China.

World corn import demand is expected higher, led by the EU and Saudi Arabia. Wheat production is forecast down from last year’s record, but still above consumption for the third straight year. Global consumption is projected up slightly as steady growth in food use more than offsets lower feeding. Global trade is forecast lower, partly driven by larger crops in some major importing countries. U.S. exports are projected higher, but the EU is forecast to be the world’s largest exporter for the third straight year. Although global stocks are projected slightly larger, stocks in most exporting countries are expected to tighten.

Rice production is projected at a new record. Consumption is forecast to surpass production for the third year in a row, drawing down stocks to the lowest since 2007/08. Trade is projected to decline marginally, but still near-record. U.S. exports are projected higher on ample supplies and improved price competitiveness in the Western Hemisphere.

 

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