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International Grains Council Report

  

Oct 5, 2012

The International Grains Council (IGC) Grain Market Report #426 released on September 28th 2012, documents the projected world supply for corn and soybeans. Despite a temporary decline in cost for corn and soybeans the intermediate outlook is for continued high demand relative to supply which will exert upward pressure on commodity prices.

The IGC predicts a 12% decline in stocks of corn at the end of the current harvest. Year-over-year production of corn worldwide will be reduced by 5%. There may be a moderating effect on price resulting from reduced demand.

Soybean production is expected to be supported by output from Latin America, although ending stocks will be reduced by 5% year-over-year.

  

The critical values for corn and soybeans in million metric tons, as extracted from the IGC Report, are tabulated below:-

Commodity   Production#1 Supply Food Feed Industrial Total Use Closing  
                   
Corn 2011-12 875#2 1,006 99 485 248 872 96  
  2012-13 833 968 99 478 239 850 92  
                   
Soy 2011-12 238 365 15 245 #3 250 24  
  2012-13 256 373 15 241   260 22  
                   
Notes:

 
#1 Values expressed in million metric tons. Some categories omitted.
#2  Values rounded
#3 The “Industrial” category for soybeans comprises crushing and is incorporated into “feed”