Mexico: Grain and Feed Annual
The marketing year (MY) 2016/17 corn production is forecast at 22.6 MMT with harvested area estimated at 6.95 million hectares. Some forecasters predict the El Nino weather pattern could affect the MY 2016/17 corn crop. MY2016/17 corn imports are forecast to increase approximately 4.3 percent to 12 MMT driven by strong demand from Mexico’s livestock and industrial use sectors. Post/New MY2016/17 production forecasts are up for wheat and sorghum at 3.9 MMT and 6.9 MMT respectively, while rice production is forecast at 240,000 MT (rough production). The strength of the U.S. dollar continues to be a major headwind against the Mexican peso.
