According to USDA data, global corn production is estimated at 1,286.23 million tons, which is 0.35 million tons lower than the previous forecast. Global exports, on the other hand, have been increased to 203.47 million tons (+1.76 million tons). Ending stocks were slightly reduced to 281.34 million tons.
The previous USDA report was published in September, as the October release was skipped due to the U.S. government shutdown.
The corn production forecast for Ukraine remains unchanged at 32 million tons. However:
- exports have been reduced to 24.5 million tons (–1 million);
- ending stocks increased to 1.55 million tons (+0.4 million).
USDA analysts also adjusted projections for the United States:
- production lowered to 425.53 million tons (–1.58 million);
- exports increased to 78.11 million tons (+2.54 million);
- ending stocks grew to 54.71 million tons (+1.13 million).
For China, USDA forecasts:
- production — 295 million tons;
- imports — 8 million tons (–2 million);
- ending stocks — 173.91 million tons (–3.16 million).
Overall, the latest USDA report reflects a trend toward rebalancing global corn flows: Ukraine’s export forecast has been slightly reduced, while the U.S. and several other exporters show the potential for increased shipments.
PigUA.info based on materials from latifundist.com