South Korea: Grain and Feed Update
Post revises rice production upward, despite a decline in planted area, based on record average yields of 5.33 MT/ha, due to favorable weather in September. Rice production is now estimated at 4.26 MMT in MY 2015/16. As a result, ending stocks are expected to increase by 300,000 MT to 1.5 MMT. MY 2015/16 wheat consumption and imports remain unchanged at 3.85 MMT and 4.0 MMT, respectively, while MY 2015/16 corn consumption is raised slightly to 10.1 MMT due to sustained high levels of animal inventories, and imports are increased to 10 MMT.
