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USDA Grains: World Markets and Trade


10 December 2013

USDA Grains: World Markets and Trade - 10 December 2013USDA Grains: World Markets and Trade - 10 December 2013


USDA Grains: World Markets and Trade Reports

The record world corn harvest is largely complete for the Northern Hemisphere countries. The record U.S. crop accounts for 80 percent of the growth in world corn production. Planting in Southern Hemisphere countries, particularly Argentina and Brazil, is still underway and crops will not be harvested for several months.

Import demand is expected to resume its upward trend, driven largely by Mexico and China. The prospect of huge U.S. exportable supplies has already driven export prices down some 30 percent ($100/ton) from last year at this time. That will improve the competitive position of the United States vis-à-vis Argentina and Brazil, where trade is forecast down sharply. With expanding global demand, shrinking competitor trade, and lower U.S. prices, U.S. exports are forecast to double.

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