February 23, 2012

Global corn trade sees growth in 2011/12

The corn trade worldwide, which is up one million this month, is anticipated to increase to 95.6 million tonnes in 2011/12 (October-September).

EU imports are forecast up one million tonnes to four million as the pace of import licenses shows that there is demand for imported corn despite increased production this year.

Brazil's corn imports are increased 0.3 million tonnes to 0.8 million based on shipments from Paraguay. South Africa's imports are up 0.2 million tonnes as it is importing yellow corn due to tight supplies and high internal prices while continuing to export white corn.

Corn imports are up by smaller amounts for Chile and the United States. These increases are partly offset by Canada's corn import reduction of 0.4 million tonnes to one million.

Canada's stock report revealed weaker than expected demand for corn in early 2011/12.