Brazilian Second Season Corn to Set Record
13 June 2012 Global coarse grain supplies for 2012/13 are projected 4.8 million tons higher with increases in corn beginning stocks and production, according to the USDA’s latest World Agricultural Supply and Demand Estimates (WASDE), issued Tuesday. Global corn beginning stocks are increased 1.6 million tons mostly reflecting higher 2011/12 production for Brazil and China. Brazil corn production is raised 2 million bushels for 2011/12.
“Despite lower reported area for the main season crop, the rapid expansion in area and nearly ideal weather for the second season (safrinha) crop is boosting Brazil’s corn production prospects to a record 69 million tons,” USDA said in its report.
Much of the expansion in safrinha corn has been in the Central West region, where corn is planted in January and a pronounced dry season typically begins by early May. This year’s rainy season extended through early June providing an additional 4 to 6 inches of beneficial rainfall for filling corn, according to USDA.
US feed grain supplies for 2012/13 “are virtually unchanged,” USDA said, as adjustments to 2011/12 balance sheets are largely offsetting and projected 2012/13 production and use are unchanged on the month, according to USDA. Projected 2012/13 season average price ranges for corn, sorghum, barley, and oats are all unchanged.
China’s 2011/12 corn production is raised 1 million tons in line with recent revisions to official government estimates. For 2012/13, USDA raised its forecast for China production by 2 million tons based on higher reported corn area as land planted to soybeans declines.
It boosted the forecast for world corn production for 2012/13 by 4.2 million tons this month with increases in China, EU-27, and FSU-12.
EU-27 corn production is increased 1.1 million tons mostly on higher area and yields for Hungary. Production is up 0.8 million tons for Russia and 0.3 million tons for Belarus both on higher reported area.
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