Japan: Grain and Feed Update
Reflecting an abundant global supply, prices of imported feed corn fell below 200 USD/metric ton (MT) in March 2016 for the first time since January 2007. Feed millers took advantage of low prices, increasing corn imports five percent in the first seven months of marketing year (MY) 2015/16 compared to the previous year. Post forecasts total corn imports to reach 15 million MT in MY2015/16. The utilization of sorghum in compound feed has dropped below three percent, the lowest on record, largely due to the increased utilization of rice and corn. Post forecasts consumption and imports of sorghum to decline to 750,000 MT and 780,000 MT respectively in MY2015/16.
