Non-US coarse grain output outlook lower for 2020/21; trade higher – USDA

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This month’s 2020/21 foreign coarse grain outlook is for lower production, slightly higher trade, and reduced stocks relative to last month, the U.S. Department of Agriculture (USDA) said in its latest supply and demand estimates report.

“EU corn production is lowered, mostly reflecting reductions for Romania and France that are partially offset by increases for several countries including Poland, Italy, and Hungary. Ukraine corn production is forecast higher, largely reflecting higher expected area,” the report said.

Other notable corn production changes included projected increases for Mozambique and Malawi, with reductions for Canada and Thailand, the USDA said, adding that barley production was lowered for the EU, Kazakhstan, Argentina, and Ukraine.

“Major global coarse grain trade changes for 2020/21 include corn export increases for the United States, Ukraine, and Burma. Corn imports are raised for the EU, Canada, and Thailand, but reduced for India,” it added.

The USDA raised sorghum exports for the United States and Argentina, with higher imports forecast for China. Foreign corn ending stocks were slightly lower in July relative to last month, reflecting an increase for Indonesia that is more than offset by declines for Canada and India, it added.

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