December 19, 2006

USDA: US feed grain supplies increased fractionally, corn exports unchanged
 

The US feed grain supplies for 2006/07 stands unchanged from November, and are down 16.4 million tonnes from 2005/06. The year-to-year supply decrease reflects lower production and beginning stocks as compared with last year.

Imports are expected to be higher in 2006/07, but still account for only a small share of supply at the projected 2.4 million tonnes.

Total feed grains use was fractionally higher this month, as barley exports were increased. Domestic use of the four feed grains (corn, barley, oat, sorghum) remained unchanged this month.

Feed and residual use for the four feed grains plus wheat converted to a September-August marketing year is up 0.1 million tonnes this month, because of a slight increase in projected wheat feeding.

Foreign coarse grains production for 2006/07 was projected 4.5 million tonnes higher this month at 683.3 million with corn accounting for most of the increase. Corn increased by 4.2 million tonnes to 420 million.

World corn trade in 2006/07 (October-September) is projected to reach 81.8 million tonnes, up 1.4 million this month. US corn export prospects remained unchanged despite increased foreign supplies on account of early sales and shipments.

Though corn imports by the EU and South Korea increased to 3.5 million and 8.8 million respectively, Canada's imports fell due to increased production. Argentina and Brazil too recorded a rise to 12 and 3.5 million respectively.

For the full USDA report, please click here