USDA feed outlook: increased imports from China raise global coarse grain trade

U.S. corn production is unchanged from the previous month at 14,506.8 million bushels, based on a national average yield of 175.8 bushels per acre in the Dec. 14 U.S. Department of Agriculture Feed Outlook report.

Domestic use, exports, and ending stocks are also unchanged for 2020/21. The projected season-average farm price is unchanged at $4.00 per bushel. Sorghum, barley, and oat production are also unchanged.

Sorghum and barley exports are increased this month based on less domestic food, seed, and industrial use—freeing up additional supplies for the export market.

China coarse grain imports for 2020/21 are raised 4.8 million metric tons (MT) this month, based on continued strong domestic demand for livestock feed.

China total imports of corn are raised 3.5 million MT to 16.5 million this month, while imports of sorghum and barley are increased as well.

Global coarse grain production remains effectively unchanged this month, while exports are raised 1.2 million MT.

The increased global exports are predominantly due to Ukrainian and Brazilian corn, Australia and Canada barley, and Argentine sorghum—all of which saw increased production for 2020/21.

Grainnet

Tags: global coarse grain trade, increased imports from China, USDA feed outlook