International Grains Council
  MAIZE


million tons            
11/1212/1313/1414/15
   estforecastproj
     29.0526.06
MAIZE
Production 877861972955963
Trade 9899118114115
Consumption 876859938947950
Carryover stocks  130132167172180
year/year change 1235 13
Major exporters a) 3234475354

(26 Jun 2014)
MAIZE (CORN):
  • The 2014/15 maize crop forecast is increased by 8m t from May, mainly reflecting improved prospects in China.
  • Despite expanding demand, world ending stocks are forecast to increase for a fourth consecutive year. Inventories in China are growing and may account for almost half of the world total.
  • Given favourable early prospects for the US crop and, with large South American crops looming, world prices were under pressure throughout June.
  • US markets were particularly weak, as strong ethanol demand and worries about localised flood damage provided only limited support. With losses elsewhere too, the IGC GOI maize sub-Index was down by 7% m/m.


Supply & Demand Graph



TABLES


Supply & demand: maize


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