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Larger World Coarse Grain Harvest
WASHINGTON - Mar 11/08 - SNS -- World coarse grain supplies for 2007-08 are projected higher this month at a forecast 1056.19 million metric tons (MT), according to the latest supply and demand forecasts from the USDA's World Agricultural Outlook Board, reflecting a 3.9 million MT increase for corn and a 0.4 million MT increase for barley.
Brazil corn production is raised 3 million MT on higher summer crop yields and larger winter crop area. Adequate rainfall and little heat stress during the summer crop's growing season pushed yields above trend. For the winter crop, a timely dry out in February and higher prices boosted plantings. A return to more normal rainfall patterns since planting has supported early crop development.
India corn production is also raised 0.5 million MT on official government estimates as favorable weather raised yields, more than offsetting a reduction in harvested area. Corn production is raised 0.4 million MT for the Philippines, in line with government statistics. Sorghum production for Australia is raised 0.3 million MT as abundant soil moisture supports improved yield prospects for what is expected to be a record crop. Sorghum production for India is reduced an offsetting 0.3 million MT based on government estimates of lower area. Barley production is raised for China and Australia.
Global coarse grains imports and exports for 2007-08 are raised slightly this month. Global corn imports are raised 0.4 million MT. Increases of 0.5 million MT each for Egypt and EU-27 are partly offset by a reduction of 0.5 million MT for Mexico. Corn import changes also include a number of smaller, mostly offsetting changes. Global corn exports are raised 0.3 million MT mostly reflecting an increase of 0.2 million MT for India as a 0.5 million MT reduction for China is offset by a 0.5 million MT increase for Brazil. Sorghum imports for EU-27 are raised 0.4 million MT. Sorghum exports are raised 0.4 million MT with increases for Australia, Brazil, and China.
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