Tridge summary
The USDA forecasts a record high global corn grain export of 182.5 million tons for the 2020/2021 marketing year, marking an increase of over 12 million tons from the previous season. This rise is attributed to increased purchases in Zambia, Thailand, and Honduras, despite the anticipated decline in Brazilian corn production due to arid conditions in the south. However, the market may face pressure from high corn stocks in Australia and a surplus in the United States due to low demand from ethanol producers. The global production of feed grain is also expected to increase by 3.2 million tons, while the barley production forecast in the EU has been raised, largely due to the anticipated increase in the UK's harvest, although this will be balanced by lower yields in France, Ukraine, India, and Russia.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Global corn grain exports in the 2020/2021 marketing year will reach a record 182.5 million tons and will increase by more than 12 million tons compared to the previous agricultural season. This is stated in the June report of the US Department of Agriculture (USDA). USDA analysts said that the main changes in world trade will be due to increased purchases of corn in Zambia, Thailand, Honduras and some other countries. At the same time, the expected significant increase in corn production in Brazil due to the expansion of sown areas under the crop will not happen. Larger areas will be offset by declining yields in the south of the Latin American country, where arid conditions have developed during the growing season. Read: Forecast of wheat exports from Ukraine reduced by 1.5 million tons However, the market will be pressured by corn stocks in Australia, which due to the trade conflict with China, will try to sell grain to other countries. In addition, there will be a surplus of ...
Source: Landlord
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