Rising World Coarse Grain Supplies

WASHINGTON - Dec 11/07 - SNS -- World coarse grain supplies for 2007-08 are projected up 600,000 at 1,189.4 million metric tons (MT) this month on higher corn beginning stocks as country-level coarse grain production changes for 2007-08 are nearly offsetting, according to the latest forecasts from the USDA's World Agricultural Outlook Board.

The 2007-08 corn carryin is raised on lower 2006-07 exports for Argentina and higher 2006-07 production for South Africa. Global corn production for 2007-08 is projected 1.1 million MT higher this month with increases for Canada, EU-27, and FSU- 12. Corn production for Canada is raised 1.1 million MT in line with recent production estimates from Statistics Canada. EU-27 corn production is increased 0.4 million MT with an increase for France more than offsetting lower production for Spain.

FSU-12 corn output is raised 0.8 million MT with increases for Belarus, Russia, and Ukraine. Partly offsetting are reductions of 0.5 and 0.8 million MT, respectively, for South Africa and Turkey. South Africa corn production is projected lower, reflecting reduced prospects for area as indicated by producer planting intentions. Corn production for Turkey is lowered as drought and untimely periods of extreme heat during the summer cut yields and limited irrigation water for second crop plantings.

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