International Grains Council
  MAIZE


million tons            
11/1212/1313/1414/15
   estforecastproj
     31.0729.08
MAIZE
Production 877861982969973
Trade 9899120116116
Consumption 876859941951955
Carryover stocks  130132173187190
year/year change 1241 17
Major exporters a) 3233506063

(29 Aug 2014)
MAIZE (CORN):
  • Northern hemisphere yield prospects continued to improve in August, including in the US, where crops have benefitted from a prolonged period of benign weather. Forecast world production is increased by 4m t compared to July.

  • However, with output in Ukraine, India, Brazil and South Africa forecast to decline, global production may still fall by 1% y/y.

  • The Council’s global ending stocks forecast is increased for a fourth consecutive month, with cumulative carryovers seen at their largest since 1987/88. Major exporter stocks appear ample.

  • Export prices slumped to fresh four-year lows on pressure from bearish fundamentals and strong competition for business.


Supply & Demand Graph



TABLES


Supply & demand: maize


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