Attache Raises South Korea's Corn Import Projection

November 8, 2011 03:15 AM

The U.S. ag attache in South Korea has raised its forecast for the country's corn import needs for 2011-12, while leaving its wheat import forecast unchanged at 1.3 million metric tons (MMT). The attache raised its corn imports forecast by 300,000 metric tons to 8.0 MMT due to higher feed demand in the poultry and beef cattle sectors.

The attache estimates the U.S will export 5.5 MMT of corn to South Korea in 2011-12, unchanged from the previous forecast. "A reduction in U.S. corn production will lead to increased imports from the Black Sea region," it states.

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