In this morning's World Supply & Demand Report, USDA raised its estimate of China’s 2012-13 corn production by 8 MMT from last month to 208 MMT -- up 8% from last year's record of 192.8 MMT. USDA raised its acreage projection, which largely came at the expense of soybean acreage.
USDA also raised its corn yield projection by 2% from last month, now 4% higher than last year. "China’s corn yield has been trending upward for the past 10 years, increasing by more than 20% since 2003-04. Reasons for the rising yields include the introduction of hybrid seeds, better management and strong government support (through procurement prices and subsidies) for corn farmers," says USDA. "Abundant rainfall benefited crops in normally-dry regions of Northeast and north China, and extensive irrigation mitigated the impact of periodic drought on the North China Plain. A typhoon caused flooding and significant lodging in parts of the Northeast in August and September, but the losses were offset by higher planted area and higher yields in other areas."
- China Corn: 2012/13 Production Sets New Record
- Australia Cotton: Lower Area Reduces Estimated Output
- Russia Sunflowerseed: Reported Area Drops Sharply in the Volga District
- Russia Corn: Record Production for 2012/13
- Canada Corn: Record Area and Production for 2012/13
- China Wheat: Higher Production in 2012/13
- Australia Wheat: Subsoil Moisture Sustains Wheat Prospects