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.
