News last update:6 Aug 2012

Record world grain trade projected

World coarse grains trade for 2007/08 (October-September trade year) is projected to reach a record 119.4 million tonnes (mt), up 1.75 million this month.

Global corn trade is forecast up 0.75 mt to 93.2 million, with sorghum trade up 0.6 mt to 8.2 million, and barley trade up 0.4 mt to 15.4 million.

Prices encourage export
Attractive prices for corn are expected to encourage some countries to export additional corn in 2007/08.

With increased production, corn exports are raised this month for India, up 0.25 mt to 0.5 million, for Tanzania, up 0.2 mt, and for Zambia, up 0.1 mt. Also, corn exports from South Africa are projected up 0.2 mt this month to 1.0 million as regional demand is expected to be strong.

Corn import prospects for Canada in 2007/08 increased 0.3 mt to 2.3 mt due to increased purchases. Prices are encouraging more feeding of corn and less of barley and wheat in Canada.

Based on the pace of recent purchases and revised trade data for 2006/07, corn imports projected for 2007/08 for Japan and Venezuela increased this month while those for South Korea were reduced. US corn exports remain projected at 60 mt for 2007/08. The early pace of sales and shipments has been strong, but the season is just beginning and exports must be sustained at a high level to reach the current projection.

Source: USDA  

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