USDA July report: world corn ending stocks increased by 2.49 million tons - 12.07.2022

USDA July report: world corn ending stocks increased by 2.49 million tons - 12.07.2022

According to USDA forecasts, the global corn harvest indicator for July in 2022/23 MR has practically not changed — 1,185.90 million tons, which is 0.09 million tons more compared to June forecasts (1,185.81 million tons).

This is evidenced by the data of the USDA report for July.

The estimate of world corn exports was slightly reduced — to 182.57 million tons, which is 0.1 million tons less than the forecast in June with an indicator of 182.67 million tons. The final balance of corn in the world, according to forecasts of USDA experts, increased to 312.94 million tons, which is 2.49 million tons more than the previous estimate — 310.45 million tons in June.

USDA experts left unchanged the corn harvest forecast in Ukraine in 2022/23 MR at the level of 25 million tons. USDA analysts also did not change the export forecast and final balances — 9.0 million tons and 12.07 million tons, respectively.

Country

Harvest, mln t

Export, mln t

Balance, mln t

Argentina

55 (0)

41 (0)

1,49 (0)

Brazil

126 (0)

47 (0)

7,95 (0)

Russia

14,5 (-1)

3,8 (-0,5)

0,78 (-0,2)

South Africa

17,3 (0)

3,7 (0)

2,68 (0)

 

 

 

 

 

 

 

 

 

In its turn, according to the USDA report, the indicators in the main exporting countries regarding the forecast for July compared to the forecast for June are estimated at the following level:

USDA analysts forecast corn production in China for FY 2022/23 without changes — 271.00 million tons. Grain imports to China, according to analysts' forecasts, will also remain unchanged and will amount to 18.00 million tons. Ending stocks — will remain at the level of 204.22 million t.

Source: https://latifundist.com/ Image: Deedster from https://pixabay.com/