Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

In this list
Agriculture

USDA cuts global corn ending 2020-21 stocks forecast 2% to 283.83 million mt

Commodities | Agriculture | Grains | Electricity | Energy | Electric Power | Natural Gas | Natural Gas (North American) | Oil | Crude Oil | Shipping | Coronavirus

Market Movers Americas, Jan 25-29: Soybean prices turn volatile; fog, weather impact several markets

Electric Power

Platts Forward Curves – Gas and Power

Electric Power | Renewables | LNG | Infrastructure Utilities

Caribbean Energy Conference, 21st

LNG | Natural Gas | Natural Gas (North American)

Endangered species signoff puts LNG facility in Alaska closer to handling imports

Agriculture | Coal | Natural Gas | Refined Products | Tankers

Commodity Tracker: 5 charts to watch this week

USDA cuts global corn ending 2020-21 stocks forecast 2% to 283.83 million mt

New Delhi — Global corn ending stocks has been further cut to 283.83 million mt for 2020-21, down 5.13 million mt from the December forecast and down 19.18 million mt from 2019-20, the US Department of Agriculture said in its World Agricultural Supply and Demand Estimates report, released Jan. 12.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Foreign corn ending stocks are lower, mostly reflecting reductions for Brazil, Argentina, the EU, and the UK, the report said.

"For Argentina, dryness during December reduces yield prospects for early-planted corn in key central growing areas. Brazil (production) is lowered reflecting reduced yield expectations for first-crop corn in southern Brazil," the report said.

Moreover, the US corn production estimate was also sharply lowered to 360.25 million mt in 2020-21 from 368.49 million mt estimated in December.

With the global corn production shrinking and prices rallying, the global corn export is now projected at 183.63 million mt in 2020-21, down from 185.97 million mt forecast in December, but above 169.99 million mt in 2019-20.

Here is the table containing some of the USDA's significant revisions to corn supply and demand forecast in the major corn-producing and exporting countries:

Production in million mt
2019-20
1,116.41
345.96
102.00
51.00
35.89
260.78
2020-21 December forecast
1,143.56
368.49
110.00
49.00
29.50
260.00
2020-21 January forecast
1,133.89
360.25
109.00
47.50
29.50
260.67
Exports in million mt
2019-20
169.99
45.17
35.00
35.50
28.93
0.01

2020-21 December forecast

185.97
67.31
39.00
34.00
24.00
0.02
2020-21 January forecast
183.63
64.77
39.00
34.00
24.00
0.02
Ending stocks in million mt
2019-20
303.01
48.76
4.99
4.37
1.48
200.53
2020-21 December forecast
288.96
43.23
7.49
2.88
0.89
191.51
2020-21 January forecast
283.83
39.42
6.49
2.88
0.89
191.68