International Grains Council
  MAIZE


million tons            
12/1313/1414/1515/16
    forecastprojected
    26.0226.0326.03
MAIZE
Production 865991992990941
Trade 99120115116118
Consumption 863947974974961
Carryover stocks  130174193191171
year/year change 244 17-20
Major exporters a) 3351676650

(26 Mar 2015)
MAIZE (CORN):


OUTLOOK FOR 2014/15

  • Crop conditions in the southern hemisphere are mixed. Due to recent hot, dry conditions in South Africa, the world production forecast is lowered by 2m t, down fractionally y/y.

  • With gains in the main exporters, but also in China and the EU, world ending stocks are forecast to rise by 9% y/y.

  • World import demand remains strong, with trade (Jul/Jun) expected to be slightly below last year’s record.


OUTLOOK FOR 2015/16

  • Global harvested area is forecast to fall for a second consecutive year and, with yields also seen down, production may drop by 5% y/y.

  • Total demand is projected to remain at historically high levels but, with overall supplies seen lower, slightly less may be used for feed.

  • Carryover stocks are projected to tighten, but will remain above average and much higher than recent lows.



Supply & Demand Graph



TABLES


Supply & demand: maize


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