November 15, 2007

World coarse grain trade to reach 119.4 million tonnes

World coarse grain trade for October  has been projected to reach a record of 119.4 million tonnes, up 1.75 million tonnes.

Global corn trade is forecasted to reach 93.2 million tonnes, up by 0.75 million. Attractive prices for corn will encourage a huge export trade for 2007 to 2008. This month, corn exports are raised in India, Tanzania and Zambia. Corn exports from South Africa are expected to increase by 0.2 million tonnes this month as  regional demand strengthens.

Corn imports for Canada in 2007/08 increased by 0.3 million tonnes due to extensive purchases. Prices indicate more feeding of corn and less of barley and wheat in Canada.

Japan and Venezuela also recorded an increase of grain imports while that of South Korea was reduced. US corn exports are still projected at 60 million tonnes for 2007/08.