April 30, 2012
World corn production up by 4%
Due to an increase in 2012 plantings, world corn production rose 4%, the International Grains Council (IGC) said.
World supplies could top one billion tonnes for the first time, with exportable availabilities more comfortable due to bigger crops in the US and Ukraine.
Demand is forecast to increase by about 3%, led by higher feed use. Little change in industrial use is expected due to a slowdown in the US ethanol sector.
End-of-season stocks may increase for the first time in four years, including a rebound in the US. World trade is projected to increase by around 6%.
Area seeded to corn and barley will increase in 2012-13, especially in North America and the CIS countries, according to IGC.
