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USDA feed outlook shows global grain and grain consuming animals are reduced

Ukraine
Published Feb 28, 2024

Tridge summary

The February Feed Outlook report predicts a decrease in the 2023-24 global coarse grain production, with supply slightly lower at 442.6 million metric tons. Despite this, an increase in ending stocks is expected as reductions in total U.S. coarse grain use outweigh supply losses. Foreign corn production is also expected to decrease, particularly in Brazil due to lower second-crop planting expectations. While U.S. corn exports remain steady at 2.1 billion bushels, domestic use is projected to decrease due to reduced food, seed, and industrial corn use. The forecast for grain consuming animal units is also lowered due to reduced livestock inventories, particularly in the poultry/broiler sector.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The February Feed Outlook report showed the 2023-24 global coarse grain production is reduced. Supply is slightly lower at 442.6 million metric tons. However, reductions in total U.S. coarse grain use outweigh supply losses, lifting ending stocks. Foreign corn production is lower this month. A reduction for Brazil reflects lower expectations for the second-crop planting, and Brazil’s exports are reduced. Ukraine has success with a new export route, and Argentina has competitive corn prices. Projected U.S. corn exports for 2023-24 are at 2.1 billion bushels, remaining unchanged from the past few months. Although U.S. corn supplies for 2023-24 are unchanged this month, domestic use is projected 10 million bushels lower. This reduction can be attributed to lower food, seed and industrial (FSI) corn use. This brings the 2023-24 corn FSI forecast down to 6.78 billion bushels. Because there are no other changes to U.S. corn use, ending stocks are raised to 2.17 billion bushels. The ...
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