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Posted on 23/05/2019
World Corn production for the 2019-20 season, which will begin on September 1, 2019, is estimated at the record level of 1133.78 Mio Tons, +1.3% compared to the current 2018-19 season. With a decrease in initial stocks and an increase in total use, final stocks are estimated at 314.71 Mio Tons (-3.4% y-o-y).
Corn production forecasts in the main countries estimate higher crops in the United States, Brazil and the EU-28, the first, third and fourth Country Producers respectively. Corn production in China, on the other hand, is expected to slow (1.3%).
In the 2018-19 season, world corn exports are up sharply: +14.5%, according to estimates at 31 August 2019, in view of significant growth for Brazil, Argentina and Ukraine. Stability is expected for the new season (+ 0.8%).
Increased exports out of Argentina and Brazil during 2018-19 are expected to limit U.S. exports during the first half of 2019-20.
Exports are mainly oriented to Mexico, South Korea, Vietnam and Iran. The European Union, the main importer of Corn, in the new 2019-20 season should reduce purchases (-14.9%).
Data for the first two months of 2019 of Italian imports of Corn recorded an overall increase of +4.6% y-o-y and showed strong growth from Croatia, Slovenia and Hungary, which more than offset a decrease in volumes imported from Ukraine and Romania.
Dairy Farms Performance and Competitiveness