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World corn production in 2021/22 projected 6% up YoY: IGC
2 July 2021, 07:30
IGC projection for the world corn production in 2021/22 was revised upward by 70 mln t or 6.2% to 1.2 mln t vs. the forecast for 2020/21, 1.13 bln t.
Output projection for the key producing countries in 2021/22 vs. 2020/21:
| Country | Production, mln t |
| USA | +19.2, 379.5 |
| China | +12.1, 272.8 |
| Brazil | -7.5, 117.4 |
| EU | +3.4, 68.3 |
| Argentina | -1.5, 57 |
| Ukraine | +7.3, 37.3 |
| South Africa | +1.2, 17 |
The June projection for the world corn trade was pegged at 181 mln t, 3 mln t lower mth/mth (May proj.: 184 mln t), and it is 8 mln t under the forecast for 2020/21.
US corn export in 2021/22 is expected at 63.5 mln t, 9.5 mln t lower from the forecast for 2020/21 (73 mln t). Argentina is projected to export 36 mln t of corn in 2021/22, 2.1 mln t under the forecast for 2020/21.
Ukraine's corn export perspective was improved by 7 mln t to 30.5 mln t in 2021/22 (2020/21 f'cast: 23.5 mln t).
The world corn carryover stocks in 2021/22 are projected at 267 mln t, 3 mln t up mth/mth (May proj.: 264 mln t).
Corn consumption in 2021/22 is projected 39 mln t higher at 1.2 bln t, 3.36% above the 2020/21 forecast.
In the 2021 crop year, corn covers 5.35 mln ha in Ukraine (2020: 5.38 mln ha).
