International Grains Council
  MAIZE


million tons            
11/1212/1313/1414/15
   estforecastproj
     29.0825.09
MAIZE
Production 877861983973974
Trade 9899120116115
Consumption 876859940955959
Carryover stocks  130132176190191
year/year change 1244 16
Major exporters a) 3233506366

(25 Sep 2014)
MAIZE (CORN):
  • Fundamentals are broadly unchanged compared to the August GMR, with record-high supplies forecast and a below average increase in consumption.

  • Production forecasts for the US, EU and Russia are raised due to good yield potential. Because of drought damage, China’s crop is expected to show its first contraction in five years.

  • With old crop southern hemisphere supplies still being marketed and, with 2014/15 harvesting now underway in the US and Black Sea region, export competition is expected to strengthen.

  • Export prices weakened for a fifth consecutive month, with the IGC GOI maize sub-Index at its lowest since June 2010.



Supply & Demand Graph



TABLES


Supply & demand: maize


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