In this morning's World Supply & Demand Report, USDA raised its 2011-12 Chinese corn production forecast 4 million metric tons (MMT) from last month to 182 MMT. USDA also revised its estimates of the previous two crop years, raising the 2009-10 and 2010-11 pegs to 164 MMT and 177.2 MMT, respectively.
Corn area for 2011-12 is estimated at 33 million hectares, unchanged from last month and up 0.5 million from last year. "Area has been increasing steadily for many years in response to higher relative profits for corn and favorable government policies," states USDA. "The 2011-12 estimated yield of 5.52 tons per hectare is up 1% from last year and corresponds to the 10-year trend. Weather data, observations from crop tours in August and September, and information from Chinese government officials and trade sources indicate that overall growing conditions for corn were better than last year and production is expected to reach a new record."
- Ukraine Corn: Harvest Reports Confirm Forecast of Record Output
- Australia Wheat: Improved Prospects for 2011-12 Production
- Kazakhstan: Wheat Production Estimated to Reach Highest Level in Over 30 Years
- Russia Sunseed: Record Production Forecast from Record Area
- Australia Cotton: Record Output Forecast for 2011-12