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May 19, 2012 |
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World corn trade increased, U.S. export prospects reduced |
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Oct 15, 2011 - World corn trade increased, U.S. export prospects reduced |
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| World corn trade increased, U.S. export prospects reduced |
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Global corn trade for 2011/12 (October-September) is projected up 1.2 million tons this month to 93.3 million. Increased exportable supplies and some moderation in prices are encouraging trade prospects. South Korea’s corn imports are increased 0.5 million tons to 7.7 million based on strong recent purchases and the recovery of the pork sector from disease problems. Corn import for Peru and the Philippines for 2011/12 are each boosted 0.1 million tons this month. Slightly reduced production prospects (2010/11 for Peru and 2011/12 for Philippines) support import prospects. However, Taiwan’s corn imports have lagged, and prospects for 2011/12 are reduced 0.2 million this month.
Ukraine, with a record corn crop, is projected to export 12.0 million tons of corn in 2011/12, up 2.0 million this month and more than double the 5.0 million estimated for 2010/11. Of all export competitors, Ukraine has responded to increased corn prices with the largest increase in corn production and exports. Russia, with increased production, is expected to export 0.6 million tons, double last month’s forecast, but still less than half the corn exported in 2008/09. Serbia’s corn export prospects are trimmed 0.1 million tons to 2.1 million due to reduced production prospects.
U.S. export prospects for 2011/12 are reduced 1.0 million tons to 41.0 million (down 50 million bushels to 1.6 billion for the September-August local marketing year). Reduced production, high prices, and increased competition are putting a damper on U.S. corn export prospects. However, as of September 29, 2011, outstanding sales of corn reached 14.3 million tons, up from 13.8 million a year earlier.
The slow pace of U.S. corn exports in September 2011 (inspections of 2.9 million tons, compared to 4.3 million a year earlier) caused a reduction of 0.5 million tons to 45.5 million for the 2010/11trade year export estimate.
U.S. sorghum export prospects for 2011/12 are reduced 0.2 million tons to 2.7 million (down 10 million bushels for the local marketing year to 100 million). Tight sorghum supplies and competition from domestic demand are expected to limit exports. Mexico’s sorghum imports are reduced 0.2 million tons to 2.1 million due to tight U.S. supplies.
World barley trade in 2011/12 is projected at 15.4 million tons, unchanged this month. While projections for importers did not change, a number of offsetting changes were made in export prospects. With reduced production, Australia’s exports are reduced 0.7 million tons to 4.0 million and Canada’s export prospects are trimmed 0.2 million tons to 0.7 million. However, EU exports are raised 0.5 million tons to 2.0 million and exports by Argentina and Russia are each boosted 0.2 million.
Source: http://www.dairyherd.com/dairy-news/latest/World-corn-trade-increased-US-export-prospects-reduced-131866358.html |
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