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WASDE Projects Global Coarse Grain Supplies Seen Up

Capital Market/ 12:00 , Nov 10, 2012

Global 2012/13 corn output is raised 0.7 million tons to 839.7 million. Despite the sharp drop year to- year, 2012/13 production is projected to be the second highest on record supported by record high foreign output. Corn production is raised 0.6 million tons for Guatemala, 0.5 million tons for Russia, and 0.4 million tons each for Indonesia and Turkey. Corn production is lowered 1.0 million tons for EU-27 and 0.8 million tons for Mexico. Sorghum production is raised 0.4 million tons for Argentina, but lowered the same amount for Mexico. Global 2012/13 corn imports are raised 2.8 million tons with increases for EU-27, United States, South Korea, and Mexico. Russia corn exports are raised 0.3 million tons for the 2012/13 marketing year. Global corn feeding is raised 3.1 million tons with increases for EU-27, Indonesia, South Korea, Guatemala, and Russia. World corn ending stocks for 2012/13 are projected 0.7 million tons higher at 118.0 million.

Global coarse grain supplies for 2012/13 are projected 1.8 million tons higher with larger corn carryin stocks for EU-27 and Mexico, and higher corn production in the United States. Global coarse grain production for 2012/13 is raised 0.9 million tons with a number of largely offsetting foreign changes made this month.

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