(31 Jul 2014)
- Amid favourable conditions for developing northern hemisphere crops, most notably in the US, the 2014/15 world production forecast is lifted by 6m t, down very slightly from last year.
- Strong underlying meat and starch demand, combined with low prices and heavy supplies, should see feed and industrial consumption at new records. Large crops will also boost direct human food use.
- World export prices were weak in July, falling to their lowest levels in almost four years as supply and demand fundamentals turned increasingly bearish. With broad-based losses across all origins, the IGC GOI maize sub-Index was down by 9% m/m.