|United States Department of Agriculture
|Foreign Agricultural Service
World Markets and Trade
COARSE GRAINS: WORLD MARKETS AND
Global corn imports are
forecast up significantly on expectations of
increased import demand from the EU and Russia.
Although USDA forecasts a slight reduction in
the U.S. crop this month, the United States
still has supplies of corn to meet this higher
Domestic: Through early September, U.S. corn
export prices rallied over $30/ton to $221/ton,
the highest level since late September 2008.
The jump in prices is a result of continued
concern over shrinking Russian grain supplies,
disappointing early harvest results in the
United States, and strong U.S. export sales to
traditional markets such as Japan and Mexico.
Brazilian and Argentine quotes were also sharply
higher on strong import demand from the Middle
East, North Africa, parts of Southeast Asia, and
prospects for the EU.
TRADE CHANGES IN 2010/11
Canadian oat exports are lowered 200,000
tons to 1.3 million on sharply lower
production, while imports for the United
States are cut 200,000 tons to 1.4
Russian corn is up 700,000 tons to 1.0
million, the highest in over 15 years, in
the face of tight feed grain supplies and
strong domestic demand.
TRADE CHANGES IN 2009/10
Argentine sorghum is boosted 200,000
tons to 1.4 million, the highest in well
over a decade, and Australian sorghum
is cut 200,000 tons; both are based on trade
Chinese, Egyptian, Indonesian,
and Mexican corn are boosted a combined
1.2 million tons based on trade data.
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