May 2021 US Department of Agriculture Supply and Demand Report (Coarse Grains)

In 2021/22, foodmate.
net/tag_2463.
html" class="zdbq" title="U.
S.
related food information" target="_blank">US food production and domestic consumption are expected to increase, foodmate.
net/tag_227.
html" class="zdbq" title="Export-related food information" target="_blank">exports are expected to decrease, and ending stocks are expected to increase.
Corn production is expected to be 15 billion bushels, which is higher than the previous year's level, as the planting area has increased and the yield has returned to a trend line level.
According to the trend of weather adjustment, if the planting schedule and the summer weather is normal, then the corn yield is expected to be 179.
5 bushels/acre.
Since the beginning stocks are much lower than the same period last year, the total corn supply is expected to slightly increase to 16.
3 billion bushels.

 

Corn consumption in 2021/22 is expected to be lower than the previous year because the increase in domestic consumption exceeds the decrease in exports.
FSI use of corn is expected to increase by 220 million bushels to 6.
6 billion bushels.
The use of corn in the ethanol industry is expected to increase as US gasoline consumption is expected to increase.
The FSI consumption of sorghum is expected to remain stable from the previous year, because the strong export of sorghum to China is expected to restrict domestic supply.
Corn feed and other consumption are expected to remain stable, because the increase in corn production will be offset by the increase in corn consumption in the ethanol industry, and the increase in corn prices will restrict demand.

 

　　US corn exports in 2021/22 are expected to fall by 325 million bushels.
Argentina and Brazil have poor production prospects in the 2021/22 (the national market year from March 2021 to February 2022), which will restrict exports and support US exports in the first half of the 2021/22 season.
However, the total corn exports of Ukraine and Russia in 2021/22 will increase by 335 million bushels, which will intensify the pressure on US export competition, thereby reducing the US’s share in the global corn trade.

 

　　Due to the increase in the supply of corn in the United States and the reduction in use, the US ending stocks for the year of 2021/22 are expected to increase by 250 million bushels over the previous year.
The inventory usage ratio is expected to be 10.
2%, which will be higher than the previous year's level, but still lower than the average level from 2016/17 to 2019/20.
The average corn farm price in 2021/22 is expected to be US$5.
7 per bushel, an increase of US$1.
35 over the previous year, when most of the corn was sold at a lower price.

 

　　The outlook for global foodmate.
net/tag_254.
html" class="zdbq" title="Coarse food related food information" target="_blank">coarse grains for 2021/22 includes that production and consumption will hit record highs, and ending stocks will increase.
Global corn production is expected to hit a record high, with the United States, Brazil, China, Ukraine and Argentina seeing the largest increases.
Global corn use is expected to increase by 3% as overseas consumption increases by 3%.
Global corn imports are expected to increase by 3%.
Countries with significant increases in corn imports include the European Union, Turkey, Iran, Japan and Mexico.
Global corn ending stocks are expected to increase by 3%, of which stocks in the United States and overseas countries are expected to increase.
Excluding China, ending stocks of corn are expected to increase by 10%.
For China, coarse grain imports are expected to be 46.
3 million tons, an increase of 3.
1 million tons from 2020/21, which will be the highest in history.
The continued high prices of Chinese corn and other energy raw materials will continue to support China’s imports, despite the increase in domestic corn production.
Corn imports are estimated to be 26 million tons, barley imports are estimated to be 10 million tons, and sorghum imports are estimated to be 10 million tons.