Coarse Grain Outlook Tweaked

WASHINGTON - Mar 11/03 - SNS -- The world's coarse grain supply and demand outlook for the balance of the 2002-03 marketing year has not changed much in the past month, according to the latest outlook report from the USDA.

Global 2002-03 supply and use projections are little changed in aggregate from last month, although there are several significant country-specific changes in production and trade prospects.

China's corn exports are increased 1 million tons to 12 million tons. Larger prospective corn crops in Brazil and South Africa are offset by reductions in India's corn, sorghum, and millet crops. The bigger prospective corn crop in Brazil results in larger exports and domestic use. Argentina's corn exports are increased and domestic use reduced for both 2001-02 and 2002-03.

Exports were unexpectedly strong during the last months of the 2001-02 March-February local marketing year. With global imports only up slightly from last month, the increased foreign export prospects result in reduced U.S. corn export projections.

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