News & Events
This week's U.S. Grains Council Chart of the Week shows world corn production of 839 million metric tons (33 billion bushels) for the 2012/2013 marketing year will be the second highest on record, down 37 million tons (1.5 billion bushels) from 2011/2012 but up 8.2 million tons (322.8 million bushels) from 2010/2011, according to the U.S. Department of Agriculture.
In September 2011, the Japanese Ministry of Agriculture, Forestry and Fisheries increased its quota for feed wheat in fiscal year 2012, from 446,000 metric tons (17.5 million bushels) to 1.21 million tons (47.2 million bushels). This week's U.S. Grains Council Chart of the Week shows Japan's feed wheat imports from October 2010 to August 2012. It demonstrates that imports have grown since late 2011.
This week's chart shows the corn supply and demand situation in Brazil. It confirms Brazil's production has grown rapidly over the last 10 years, from 40 million metric tons (1.6 billion bushels) to 70 million tons (2.8 billion bushels). Domestic feed use has climbed steadily from 30 million tons (1.2 billion bushels) to 47 million tons (1.9 billion bushels) in the past decade as Brazil expanded its animal feeding industries (especially pork and poultry). Brazil's corn exports have grown as well from 5.8 million tons (228 million bushels) to 19 million tons (748 million bushels).
The following chart shows U.S. corn exports to select markets during the recently completed 2011/12 corn marketing year in comparison to exports last year. While there has been a significant drop in U.S. sales to most markets, China and Mexico are the exceptions to this pattern, with noticeable increases.
The chart shows the importance of the top ten markets, which account for all but about 1 mmt of total U.S. exports. Mexico and Canada started out as the top two markets, but were challenged by China in 2010 and 2011 in spite of the anti-dumping investigation in China in 2011. The year-to-date exports show that total DDGS exports are tracking at a higher pace than 2011, but that growth is driven by China, recovering its imports from last year with the uncertainty of the antidumping case behind us. Interestingly, even in 2011 China was the number 2 market.
The graph shows China imports of corn and the U.S. market share. Growing from almost nothing, China’s corn imports reach 5 million metric tons (197 million bushels) in the marketing year just ending, with almost all imports from the United States.
North Dakota has regained its number 1 ranking in barley acreage for 2012, planting 1,140,000 acres, a 185 percent increase over 2011. The following table provides a history of barley acreage for member states of the National Barley Growers Association (data source: USDA-NASS). While barley harvest is still in its early stages, farmers are generally optimistic about their crop. Early yield indications for U.S. barley are in the 50 to 65 bushel per acre range, despite high temperatures later in the season that impacted yields.
Korean corn imports during the first five months of 2012 reflect the diversity of suppliers in the international market place. While the United States still enjoys a 55 percent share of Korea's corn imports, that share has fluctuated widely in recent years based on availability and price in competitor markets. And while the United States enjoys a high share of Koreas feed corn market, the Black Sea region accounts for 69 percent of Korea's corn imports for industrial processing.
This week's U.S. Grains Council Chart of the Week shows Ukraine's corn exports for the October-September marketing year as reported by the State Customs Committee of the Ukraine. Showing sales for the first six months of the current marketing year (2011/2012), Ukraine's exports of corn have increased significantly, especially to the North Africa markets, keeping U.S. exporters from entering these markets consistently.
Tunisia, a major producer and exporter of olive oil, is on track to become the largest international export market for U.S. corn oil for back-to-back years. Traditionally Turkey and Saudi Arabia are largest export markets for U.S. corn oil, but due to biotechnology constraints in Turkey, Tunisia quickly stepped in to the number one slot in 2011. Note that the accompanying chart combines both crude corn oil and refined corn oil exports.