Venezuela: Grain and Feed Update
Post corn production forecast is one million MT, or eight percent below the USDA projection in marketing year (MY) 2016/2017. Less production will boost corn imports, forecast up to 2.19 million MT, about four percent above the USDA projection. Rice planted area is forecast up four percent from the USDA area to 135,000 hectares, rebounding production to 516,000 MT, or about 350,000 MT of milled rice, three percent above the USDA forecast. Rice imports are forecast down five percent from the USDA projection to 380,000 MT with exports also forecast down to 70,000 MT, 12 percent less than USDA’s volume. Rice consumption is forecast 1.5% above USDA’s projection to 680,000 MT. The wheat consumption forecast is 1.52 million MT, up one percent from the USDA forecast. Wheat imports are also up one percent from the USDA projection to 1.52 million MT.