World corn production 2021/22 improved on US projection: July USDA report

In its July report, the United States Department of Agriculture (USDA) revised upward the world corn production forecast by 4.95 mln t to 1,194.8 mln t (June report: 1,189.85 mln t).

Corn export is projected at 198.84 mln t, 1.37 mln up from the previous forecast. Corn ending stocks were also improved from 289.41 mln t to 291.18 mln t.

Ukraine's corn perspectives for 2021/22 were unchanged by the USDA experts in the July report:

  • production: 37.5 mln t
  • export: 30.5 mln t
  • ending stocks: 1.11 mln t

The projection for the US corn in 2021/22:

  • production: 385.21 mln t (+4.45 mln t)
  • export: 63.5 mln t (+1.27 mln t)
  • ending stocks: 36.37 mln t (+1.9 mln t)

As per the July report, corn production by the largest exporting countries is forecasted 0.5 mln t higher at 238.9 mln t.

The projection for the major corn exporters in 2021/22 (July vs. June report indicators, mln t):

Country Production Exports Ending stocks
 Brazil 118 43 8.93
 Argentina 51 36 2.63
 Ukraine 37.5 30.5 1.11
 South Africa 17 3.2 3.62
 Russia 15.4 (+0.5) 4.4 (+0.3) 0.69

China's corn import in 2021/22 is projected at 26 mln t, production at 268 mln t, ending stocks at 198.16 mln t.

As of 12 July, corn export from Ukraine dropped by 8% YoY to 340 thou. t.

Corn area in Ukraine on the 2021 crop year totals 5.35 mln ha (2020: 5.39 mln ha).

IGC's forecast for the world corn production in 2021/22 is 6.2% up YoY.

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