(27 Aug 2015)
OUTLOOK FOR 2015/16
- Despite damage from drought in Europe, the world production forecast is increased by 2m t from before, with US crop prospects more favourable.
- Given slightly tighter availabilities in some countries, overall consumption is forecast to dip slightly, to 972m t, with feed use down 1% y/y.
- Led by a sharp increase in EU imports, world trade is forecast to reach new highs. Amid large supplies, strong demand and a weak real, Brazil’s exporters will increase market share.
- Global stocks appear comfortable and are forecast close to 200m t for a second successive year.