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
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.
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.
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