(27 Nov 2014)
- The bulk of the 2014/15 northern hemisphere crop is now harvested and, with better than average yields in many countries, the world production forecast is increased by 3m t from before, only slightly down from last year’s record.
- Seeding in South America has so far progressed at a slower than average pace. While output in Brazil and Argentina is expected to decline, much will depend on final planting decisions and weather during the coming months.
- World demand is forecast to increase to record highs, driven by a 3% gain in feed consumption.
- Export values increased slightly in November and, with stiff competition for business, price spreads narrowed between the main origins.