International Grains Council
  MAIZE


million tons            
12/1313/1414/1515/16
   est.forecastprojected
    026.0323.04
MAIZE
Production 866992994941951
Trade 99121118118119
Consumption 863947970961969
Carryover stocks  130174198171181
year/year change 24524 -17
Major exporters a) 3351695053

(23 Apr 2015)
MAIZE (CORN):

OUTLOOK FOR 2014/15

  • Crop prospects are improving in Brazil and with some northern hemisphere estimates also revised higher, the world crop forecast is increased by 4m t, to 994m, a new record.

  • Consumption is forecast to reach unprecedented levels, with feed and industrial uses both seen up 3% y/y.

  • With some upward revisions this month, including in the US and China, world stocks are now seen at their highest since 1986/87.


OUTLOOK FOR 2015/16

  • Owing to a slight drop in area and with yields seen falling back to average levels, world production is forecast to contract by 4% y/y.

  • Demand is expected to remain very strong, down only slightly y/y. Smaller crops may contain feed use in some countries.

  • While world carryovers are expected to tighten, including in the major exporters, ending stocks should still be larger than average.


Supply & Demand Graph



TABLES


Supply & demand: maize


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