September 2021

  • This month’s 2021/22 corn production is forecast higher for China and Argentina and lower for Russia and Serbia.
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  • The global wheat outlook for 2021/22 is for increased supplies, higher consumption, more trade, and higher ending stocks.
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    • The 2021/22 canola production is forecast lower for Canada and the EU. Partly offsetting is higher canola output for Australia Canada’s canola crop is lowered 2.0 million tons to 14 million, reflecting recent government reports.
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    • Higher beginning stocks for China and higher U.S. ending stocks account for most of the global 2021/22 soybean ending stocks increase, which are raised 2.7 million tons to 98.9 million. Another notable oilseed change includes higher soybean meal imports for India.
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    • Barley production is increased for Australia, Ukraine, and the EU and decreased for Canada and Russia.
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    August 2021

    • Ukraine corn production is raised as a reduction in area is more than offset by a boost in yield prospects.
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    • The global wheat outlook for 2021/22 is for reduced supplies, lower consumption, reduced trade, and smaller ending stocks.
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    • Russian sunflowerseed production is lowered 1.0 million tons to 15.5 million. In contrast, Ukraine’s sunflowerseed production is forecast higher. (...)

    • Canada’s canola crop is lowered 4.2 million tons to 16 million on drought in the Canadian Prairies.
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    • Global 2021/22 oilseed crush is lowered mainly on lower soybean crush for China. Soybean crush for China is lowered 2.0 million tons to 98 million, in line with downward revisions to crush and soybean meal consumption in the prior year. With lower demand, China’s 2021/22 soybean imports are lowered 1.0 million tons to 101 million. (...)

    • Barley production is reduced for Canada, Kazakhstan, Turkey, the EU, and Russia and increased for Ukraine, Australia, and Morocco.
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    July 2021

    • For 2021/22 corn production is increased for Russia based on higher indicated area.
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    • For 2021/22 supplies are projected to decline 5.3 million tons to 1,082.6 million on reduced beginning stocks in several countries and lower U.S. production not offsetting higher foreign production
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    • Russian sunflower seed production is increased 2.0 million tons to 16.5 million, mainly on higher area shown in government planting progress reports.
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    • Australian rapeseed production is raised on beneficial early-season rainfall and higher area.
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    • Canada’s soybean production lowered based on lower area.
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    • Barley production is raised for Australia but lowered for Canada, the EU, Russia, Kazakhstan, and India. (...)

    June 2021

    • Brazil corn production for 2020/21 is reduced on lower yield expectations for second-crop corn, based on below-normal rainfall in the Center-West and South during the month of May. Partly offsetting is greater indicated area for the second and third crops.
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    • The global wheat outlook for 2021/22 is for larger supplies, higher consumption, increased trade, and higher stocks.
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    • EU canola production is increased 0.6 million to 17.2 million as cool spring weather coupled with timely May rainfall boosted yield prospects particularly for France, Germany, and Poland. Australian canola production is also revised up 0.2 million tons to 3.7 million on higher area harvested and yield.
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    • Global 2021/22 soybean ending stocks are raised 1.5 million tons to 92.6 million, driven by higher beginning stocks for the United States and Brazil. Brazil’s 2020/21 soybean production is raised 1.0 million tons to 137.0 million, mainly on higher yields for Mato Grosso do Sul.
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    • Barley production is raised for the EU, mostly reflecting forecast increases for Germany and France that are partly offset by a reduction for Spain. Barley production is also lowered for Turkey.
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    May 2021

    • The global coarse grain outlook for 2021/22 is for record production and use, and larger ending stocks. 
    • World corn production is forecast record high, with the largest increases for the United States, Brazil, China, Ukraine, and Argentina.  
    • Global corn use is expected to grow 3 percent, with foreign consumption up 3 percent. 
    • Global corn imports are projected to increase 3 percent. Notable increases in corn imports include the EU, Turkey, Iran, Japan, and Mexico. 
    • Global corn ending stocks are up 3 percent from a year ago, with expected increases for the United States and foreign countries. Excluding China, corn ending stocks are up 10 percent relative to a year ago.
    • For China, total coarse grain imports are forecast at 46.3 million tons, up 3.1 million from 2020/21 and if realized would be record high.  Expectations are for continued relatively high corn and other energy feedstuff prices in China, despite an increase in corn production. 
    • Among the individual coarse grains, corn imports are forecast at 26.0 million tons, barley at 10.0 million, and sorghum at 10.0 million. 

    • The initial global wheat outlook for 2021/22 is for larger supplies, higher consumption, increased trade, and marginally higher stocks.  
    • Supplies are projected to increase 8.1 million tons to 1,083.7 million with production projected at a record 789.0 million tons.  Higher production for Argentina, the EU, UK, Morocco, Ukraine, and the United States is expected to more than offset reductions for Australia and Canada.  Russia’s production of 85.0 million tons is similar to last year’s record on increased winter wheat area.  
    • Projected 2021/22 world consumption is raised 7.8 million tons to a record 788.7 million, primarily on higher food, seed, and industrial (FSI) use, continuing a long-term uptrend.  
    • Wheat feed and residual use is projected up relatively less than FSI as increases in the EU, UK, Russia, and the United States are partially offset by decreased feed use for China, Canada, and Australia.
    • Projected 2021/22 global trade is a record 202.4 million tons, up 2.8 million from last year on increased exportable supplies.  Imports are projected to rise, primarily on increased demand from Algeria, Indonesia, the EU, and Middle East region.  China’s imports are projected slightly lower at 10.0 million tons but remain large with stocks continuing to decline despite higher production.  Imports are also projected lower for Pakistan and Morocco on increased supplies.  
    • Russia is projected as the leading 2021/22 wheat exporter at 40.0 million tons.  Argentina, the EU, and Ukraine exports are also projected higher while Australia, Canada, and the United States are lower.  
    • Projected 2021/22 world ending stocks are modestly higher at 295.0 million tons with China accounting for 48 percent of the total.

    • Global vegetable oil consumption for 2021/22 is projected at 213.2 million tons, up 3.0 percent, led by increases for China and the United States. 
    • Global vegetable oil ending stocks are projected at 22.4 million tons, down 3 percent from 2020/21 and the lowest in 11 years. 

    • Global soybean exports are expected to increase 1 percent to 172.9 million tons.  The U.S. share of global exports is forecast to decline while Brazil’s share increases from 50 percent in 2020/21 to 54 percent in 2021/22.  
    • China’s imports are forecast to increase 3 million tons to 103 million.  
    • Global soybean ending stocks are projected at 91.1 million tons, up 4.6 million, with most of the increase in China and Brazil.  
    • Global vegetable oil consumption for 2021/22 is projected at 213.2 million tons, up 3.0 percent, led by increases for China and the United States. 
    • Global vegetable oil ending stocks are projected at 22.4 million tons, down 3 percent from 2020/21 and the lowest in 11 years. 

    • China barley imports are forecast at 10.0 million in 2021/2022.

    April 2021

    • Corn production is raised for Pakistan, the EU-27+UK, and Ecuador, with partly offsetting reductions for Argentina and Indonesia.
    • Major global trade changes include lower forecast corn exports for Ukraine.Corn imports are raised for Bangladesh.
    • Corn ending stocks are increased for South Korea and Pakistan and reduced for Saudi Arabia.

    • The 2020/21 global wheat outlook is for slightly smaller supplies, increased consumption, higher exports, and reduced stocks this month.
    • Supplies are lowered 0.5 million tons to 1,076.5 million but 2020/21 production remains at a record 776.5 million.
    • World 2020/21 consumption is increased 5.1 million tons to 781.0 million, mainly on higher feed and residual use for China. his is expected to further increase China’s 2020/21 wheat feed and residual use, raised 5.0 million tons to a record 40.0 million.
    • Projected 2020/21 global trade is raised 1.2 million tons to a record 198.9 million, mostly on higher exports by Russia and the EU-27+UK.
    • Russia’s exports are raised 0.5 million to 39.5 million despite the recent imposition of an export tax. Russia’s monthly exports continue to be large and its prices remain competitive internationally. EU-27+UK exports are increased 0.5 million tons to 27.5 million on a stronger than expected pace.
    • Projected 2020/21 world ending stocks are lowered 5.7 million tons to 295.5 million with China accounting for most of the reduction. Stocks in China in 2020/21 are projected to decline for the first time in eight years (or since 2012/13).

    • Rapeseed production is increased for India on higher area estimates.

    • Global soybean production is raised 1.4 million tons to 363.2 million, mainly reflecting a 2-million-ton increase to 136 million for Brazil. Partly offsetting is reduced soybean production for the EU-27+UK and Paraguay.
    • Global soybean exports are increased 1.2 million tons to 170.9 million. Brazil, Russia, and U.S. exports are revised higher while Paraguay and Ukraine shipments are lowered.
    • Global soybean ending stocks are raised 3.1 million tons to 86.9 million, largely on higher stocks for China and Brazil.

    • Barley exports are raised for Canada, Argentina, and the EU-27+UK, with partly offsetting reductions for Iraq and Kazakhstan.
    • Barley imports are sharply higher for China, with a partly offsetting reduction for Morocco.
    • Barley production is higher for Argentina and the EU-27+UK, but lowered for Mexico.

    March 2021

    • The 2020/21 corn production is forecast higher for India, South Africa, and Bangladesh and lower for Mexico.
    • India corn production is higher with increases to both area and yield
    • South Africa corn production is raised reflecting more favorable yield prospects.
    • Corn exports are raised for India, Vietnam, and South Africa. Imports are increased for Vietnam, Bangladesh, and the Philippines.
    • Corn ending stocks for 2020/21 are increased for India, Vietnam, and Paraguay. These increases are partly offset by reductions for Argentina and Mexico.
    • Global corn ending stocks, at 287.7 million tons, are up 1.1 million from last month.

    • Global 2020/21 wheat supplies are raised 3.5 million tons to 1,077.1 million.
    • Global 2020/21 production is increased to a record 776.8 million tons.
    • Australia’s production is raised to a record 33.0 million tons, surpassing the previous 2016/17 record of 31.8 million.
    • World 2020/21 consumption is increased 6.6 million tons to 775.9 million, mostly on higher feed and residual use for China.
    • Projected 2020/21 global trade is raised 2.9 million tons to a record 197.7 million, mostly on higher exports by Australia and Canada.
    • Australia’s exports are raised on greater exportable supplies while Canada’s exports are increased on a continued strong pace.
    • The largest import changes this month are for China and Pakistan, where imports are raised to 10.5 million and 3.4 million tons, respectively, on a continued robust pace. Projected 2020/21 imports for both countries are well above their 2019/20 imports.
    • Projected 2020/21 world ending stocks are lowered 3.0 million tons to 301.2 million with most of the reduction due to increased consumption for China. However, global stocks are still slightly higher than 2019/20 with China and India holding 50 and 9 percent of the total, respectively.

    • Global oilseed exports are raised 0.8 million tons to 194.7 million, mainly on higher rapeseed exports for Ukraine and Australia. Rapeseed imports are increased for the EU-27+UK where the crop is also raised to 17.1 million tons based on updated government data.

    • 2020/21 soybean production for Brazil is raised 1 million tons to 134 million.
    • India’s soybean production is raised 0.2 million tons to 10.7 million based on updated government area data.
    • Argentina’s soybean production is reduced 0.5 million tons to 47.5 million due to dry weather conditions over the past month.
    • Global soybean crush is forecast up 1.6 million tons to 323.6 million.
    • Soybean crush for China is lowered 1 million tons to 98 million based on data to date.
    • Global soybean stocks are slightly higher, with increased stocks for China and Brazil that are mostly offset by lower stocks for Argentina.

    • World barley production is higher with an increase for Australia.
    • Barley exports are raised for Australia, with higher imports for Saudi Arabia and Algeria.

    February 2021

    • Global coarse grain production for 2020/21 is projected marginally higher to 1,438.9 million tons. 
    • This month’s foreign coarse grain outlook is for higher production, lower consumption, and greater ending stocks relative to last month. 
    • Foreign corn production is up fractionally, with an increase for South Africa more than offsetting a reduction for Paraguay. For South Africa, production is raised based on higher indicated area. For Brazil, the corn production forecast is unchanged as greater area is offset by a reduction in yield. 
    • Slow second-crop planting progress in the Center-West dampens yield prospects but very favorable prices boost area expectations.
    • "Major global trade changes for 2020/21 include higher projected corn exports for the United States, India, and South Africa.
    • For 2019/20, Argentina and Brazil corn exports are raised for the local marketing year ending February 2021 based on larger-than-expected late-season shipments. Corn imports for 2020/21 are increased for China, with partly offsetting reductions for the EU-27+UK, South Korea, Japan, India, Saudi Arabia, and Turkey.
    • Foreign corn ending stocks for 2020/21 are up relative to last month, mostly reflecting increases for China, South Africa, and Mexico that are partly offset by reductions for Argentina and Brazil. 
    • Global corn ending stocks, at 286.5 million tons, are up 2.7 million from last month.

    • The 2020/21 global wheat outlook is for greater supplies, increased consumption, higher exports, and reduced stocks. 
    • Supplies are raised 0.8 million tons to 1,073.5 million. Global production is increased to a record 773.4 million tons as higher production in Kazakhstan more than offsets reduced production in Pakistan and Argentina. 
    • World 2020/21 consumption is increased 9.8 million tons to 769.3 million, mostly on higher feed and residual use for China and increased food, seed, and industrial (FSI) use for India. China’s 2020/21 feed and residual use is raised to a record 30.0 million tons, surpassing the previous 2012/13 record of 26.0 million. China’s domestic corn prices continue to be at a premium to wheat, encouraging greater wheat feed use. Additionally, increased auction volumes of old-crop stocks in China have expanded the availability of feed-quality wheat. 
    • India’s FSI is raised 3.5 million tons to a record 96.5 million as government stocks data indicate greater disappearance than previously estimated. This is likely the result of the inclusion of wheat products in India’s government food assistance programs to address economic disruptions caused by COVID-19.
    • Projected 2020/21 global trade is raised 1.1 million tons to 194.8 million tons as higher exports for the EU-27+UK and Kazakhstan more than offset lower exports for Argentina. EU-27+UK exports are raised on a strong export pace and improved price competitiveness with Russia. 
    • Kazakhstan exports are increased on its pace to date and greater exportable supplies. Argentina’s are lowered on reduced supplies and a slow export pace to date. 
    • The largest import change this month is for China, where imports are raised to 10.0 million tons on a continued robust pace. 
    • Projected 2020/21 world ending stocks are lowered 9.0 million tons to 304.2 million with most of the reductions due to increased consumption for China and India. 
    • However, global stocks remain record high with China and India holding 51 and 9 percent of the total, respectively.

    • Global 2020/21 soybean supply and demand forecasts include higher exports and lower ending stocks.
    • Global exports are raised 0.6 million tons to 169.7 million on higher exports from the United States and Russia.
    • Higher imports for Argentina are partially offset by reductions for the EU-27+UK, Canada, and Bangladesh.
    • Global soybean stocks are reduced 1.0 million tons to 83.4 million as lower stocks in the United States and Brazil more than offset higher stocks in Argentina.

    • China’s barley imports are higher this month, bringing total coarse grain imports to 40.3 million tons.

    January 2021

    • The 2020/21 corn production is reduced for Argentina and Brazil and increased for China and India.
    • Major global corn trade changes for 2020/21 include reduced corn imports for the EU-27+UK, Mexico, Iran, Vietnam, Colombia, Chile, Egypt, Malaysia, Peru, and Saudi Arabia, with a partly offsetting increase for China.
    • Corn ending stocks are reduced for Brazil and the EU-27+UK. Global corn stocks, at 283.8 million tons, are down 5.1 million.

    • The 2020/21 global wheat supplies are lowered 1.6 million tons to 1,072.7 million on reduced production in China and Argentina more than offsetting an increase for Russia.
    • China’s production is reduced 1.8 million tons to 134.3 million on the National Bureau of Statistics estimate.
    • Russia’s production is raised 1.3 million tons to a new record of 85.3 million, based on estimates from Russia’s statistical agency Rosstat.
    • Argentina’s production is reduced 0.5 million tons to 17.5 million on updated harvest results to date and this would be Argentina’s smallest crop in five years.
    • World 2020/21 consumption is increased 1.8 million tons to 759.5 million.
    • Projected 2020/21 global trade is raised fractionally to 193.8 million tons on higher exports for Canada, the EU-27+UK, and India more than offsetting reductions for Russia and Argentina.
    • Russia’s recently announced wheat export tax and grain export quota is expected to temper Russia’s exports in the latter stages of the marketing year when it is imposed in mid-February. Russia’s exports are reduced 1.0 million tons to 39.0 million while EU-27+UK exports are raised 500,000 tons to 26.5 million as the EU-27+UK is expected to gain from Russia’s export restraints.
    • Canada’s exports are raised 500,000 tons to 26.5 million on the expectation of continued large shipments to China as its imports are also raised this month to 9.0 million.
    • Projected 2020/21 world ending stocks are lowered 3.3 million tons to 313.2 million but remain record high with China and India holding 51 and 10 percent of the total, respectivel

    • Sunflowerseed production is increased 0.5 million tons to 13.5 million for Russia based on recent government estimates.

    • Soybean production is lowered 2 million tons to 48 million for Argentina and 0.2 million to 2.2 million for Uruguay, reflecting dry weather conditions in December and early January. Mostly offsetting lower South American soybean production is a 2.1-million-ton increase to 19.6 million for China on recent government data.
    • Global soybean stocks are lowered 1.3 million tons to 84.3 million, with lower stocks for Argentina and the United States that are partly offset by higher stocks for China.

    December 2020

    • Argentina corn production is reduced based on lower expected area.
    • Canada corn output is lowered as marginally higher area is more than offset by a reduction in yield.
    • EU corn production is down mostly reflecting a smaller forecast for Bulgaria.
    • Ukraine corn production is raised based on harvest results to date. Corn exports are raised for Ukraine but lowered for the EU.
    • Imports are raised for China and Bangladesh, with partially offsetting reductions for the EU, Egypt, Iran, Morocco, and Tunisia.
    • Corn ending stocks for 2020/21 are reduced for India, Brazil, Canada, Ukraine, and Egypt.

    • The 2020/21 global wheat outlook is for larger supplies, increased consumption, higher exports, and reduced stocks
    • Supplies are raised 1.2 million tons to 1,074.3 million on higher global production, which is now a new record at 773.7 million. Most of this month’s production increase is for Australia, which is raised 1.5 million tons to 30.0 million.
    • Russia’s production is raised 500,000 tons to 84.0 million.
    • Canada’s wheat production is raised 0.2 million tons to 35.2 million.
    • World 2020/21 consumption is increased 5.1 million tons to 757.8 million, mostly on higher feed and residual use for China, Australia, and the EU. China is raised 3.0 million tons to 24.0 million.
    • Projected 2020/21 global trade is raised 2.9 million tons to 193.7 million on higher exports for Australia, Canada, Russia and the United States.
    • The largest import increases this month are for China and Pakistan, each raised 500,000 tons.
    • Projected 2020/21 world ending stocks are lowered 3.9 million tons to 316.5 million but remain record high with China and India holding 51 and 10 percent of the total, respectively.

    • Global sunflowerseed production is projected down 0.2 million tons to 49.5 million, with lower crops for Argentina and the EU.

    • Global rapeseed production is projected lower as reduced estimates for Canada and the EU are partly offset by a larger Australian crop

    • Global soybean production is projected down 0.6 million tons to 362.1 million. Higher soybean crops for Canada and Uruguay are offset by lower production for Argentina, which is reduced 1 million tons to 50 million on lower harvested area.
    • Lower production for Argentina leads to lower crush and soybean meal exports, supporting higher U.S. exports
    • Global oilseed trade for 2020/21 is projected at 191.8 million tons, up 1.0 million from last month. Increased soybean exports for Canada and Uruguay and increased rapeseed exports for Canada and Australia account for most of the gains.

    • Barley production is raised for Australia and Canada.

    November 2020

    • Global coarse grain production for 2020/21 is forecast down 11.1 million tons to 1,447.8 million.  
    • The 2020/21 foreign coarse grain outlook is for lower production, virtually unchanged use, and greater stocks relative to last month. 
    • Foreign corn production is forecast lower with reductions for Ukraine, the EU, Russia, and Moldova more than offsetting increases for South Africa and Laos.  
    • For Ukraine, the projected corn yield is lowered based on continued poor harvest results to date and if realized would be the lowest since 2012/13. 
    • Major global coarse grain trade changes for 2020/21 include larger corn exports for the United States, Turkey, and South Africa, with mostly offsetting reductions for Ukraine and Russia.  Corn imports are raised for China and South Korea, but lowered for the EU, Mexico, and Iran.  For China, while the National Development and Reform Commission has not made any public statements indicating additional corn import quota has been allocated, shipment data for exporting countries through early November indicates they will exceed their tariff rate quota level of 7.2 million tons.  
    • Foreign corn ending stocks for 2020/21 are higher, mostly reflecting increases for China and South Africa that are partly offset by reductions for the EU and Russia.  Global corn ending stocks, at 291.4 million tons, are down 9.0 million from last month.

    • The 2020/21 global wheat outlook is for larger supplies, increased consumption, higher exports, and reduced stocks.  
    • Supplies are raised 0.7 million tons to 1,073.1 million as higher beginning stocks offset lower global production, which remains at a record. 
    • Most of this month’s production decrease is for Argentina, where production is lowered 1.0 million tons to 18.0 million. The lingering impacts of drought and local freeze damage have caused Argentina’s forecast yield to be the lowest in eight years. 
    • World consumption is increased 1.7 million tons to 752.7 million, mainly on higher feed and residual use for China and the EU. 
    • Projected 2020/21 global trade is raised 0.9 million tons to 190.8 million on higher exports for Russia and the EU more than offsetting lower Argentina exports. Increases in imports are led by China, Pakistan, and Turkey. 
    • China’s import pace continues to be robust and at 8.0 million tons, imports would be the largest since 1995/96. 
    • Projected 2020/21 world ending stocks are lowered 1.0 million tons to 320.5 million but remain record high.

    • Foreign oilseed production is lowered 5.6 million tons to 473.3 million, mainly on lower soybean crops for Argentina and India and lower sunflowerseed production for Ukraine and Russia. Yields are reduced for Ukraine and Russia on dry weather conditions during the season and recent harvest results. Argentina’s soybean production is lowered as economic uncertainty reduces area expansion. Crop reductions result in lower exports of soybean and sunflowerseed meal and oil.

    • Barley exports are raised for the EU, with higher imports forecast for China. Total coarse grain imports for China are forecast to reach a record 26 million tons, just above the previous high of 25.7 million reached during 2014/15.

    October 2020

    • Corn production is forecast higher for several countries, including Serbia, Ghana, Kenya, Tanzania, Burkina, and Mali more than offsetting declines for Ukraine and the EU.
    • The projected corn yield for Ukraine is lowered based on reported harvest results to date.
    • Corn exports are raised for Serbia but lowered for Ukraine and the EU.
    • For 2019/20, corn exports for Argentina are raised.
    • For 2020/21, corn imports are lowered for the EU, Iran, and Kenya, but raised for Saudi Arabia, Vietnam, and Iraq.
    • Corn ending stocks are increased for Mexico, the EU, and Canada. Global corn ending stocks, at 300.5 million tons, are down 6.3 million from last month.

    • For 2020/21, wheat supplies are raised 2.2 million tons to 1,072.5 million, mostly on Russia’s production increasing 5.0 million tons to 83.0 million, which is the second-largest crop on record, following 2017/18. The increased production is based on updated harvest results as reported by Russia’s Ministry of Agriculture. Russia’s increased production more than offsets reductions in Ukraine, Canada, Argentina, and the United States.
    • Ukraine’s production is lowered 1.5 million tons to 25.5 million.
    • Canada’s production is reduced 1.0 million tons to 35.0 million.
    • Argentina’s production is lowered 0.5 million tons to 19.0 million on continued dry conditions in some regions.
    • World consumption is increased fractionally to 751.0 million tons.
    • Projected 2020/21 global trade is raised 0.5 million tons to 189.9 million on higher exports for Russia more than offsetting reductions for Argentina and Ukraine
    • Russia’s exports are raised 1.5 million tons to 39.0 million.
    • The largest import changes this month are for China and Pakistan, each raised 0.5 million tons.
    • Projected 2020/21 world ending stocks are raised 2.1 million tons to 321.5 million to a new record.

    • The 2020/21 sunflowerseed production is lowered for Ukraine, the EU, Moldova, and Argentina. Ukraine’s sunflowerseed output is lowered 2 million tons to 15 million on drought conditions. Dryness also impacted yield prospects for Romania, Bulgaria, and Moldova.

    • Rapseed exports are incresed for Russia.

    • Beginning stocks are lowered mainly on higher 2019/20 crush for China that is partly offset by lower exports and higher stocks for Brazil.
    • The 2020/21 soybean imports, crush, and meal consumption are higher for China, Bangladesh, Thailand, and Vietnam, aligning with prior year increases in domestic meal use.
    • Argentina’s exports are lowered 0.5 million tons due to stronger competition from the United States.
    • With lower supplies in the United States and higher foreign use, global ending stocks are reduced 4.9 million tons to 88.7 million.

    September 2020

    • EU corn production is lowered, mostly reflecting a reduction for Romania. Ukraine corn production is down, as acute short-term drought across much of the primary growing areas lowered corn yield prospects after a favorable start to the summer growing season.
    • Corn production is raised for Brazil. Corn production is also increased for India and Nigeria.
    • Corn exports are raised for the United States, Brazil, and Mexico.
    • Corn imports are raised for Venezuela.
    • China’s corn feed and residual use for 2019/20 and 2020/21 is raised from last month.
    • Corn ending stocks are increased for India and Nigeria and decreased for China.

    • Global wheat supplies are raised 3.3 million tons to 1,070.3 million, mostly on higher production in Australia and Canada more than offsetting a smaller crop in Argentina.
    • Australia’s production is raised 2.5 million tons to 28.5 million. Canada’s production is increased 2.0 million tons to 36.0 million. Argentina’s production is lowered 1.0 million tons to 19.5 million on continued dry conditions and possible frost damage.
    • On net, global 2020/21 production is raised 4.5 million tons to a record high 770.5 million.
    • World consumption is increased 0.8 million tons to 750.9 million, primarily on higher feed and residual usage for Australia and Canada.
    • Projected 2020/21 global trade is raised 1.5 million tons to 189.4 million on higher exports for Australia and Canada. The largest import change this month is for China, where imports are raised 1.0 million tons to 7.0 million. If realized, these would be the largest China wheat imports since 1995/96.
    • Projected 2020/21 world ending stocks are increased 2.6 million tons to 319.4 million to a new record, with China and India accounting for 51 and 10 percent of the total, respectively.

    • Soybean production is raised for Brazil, Canada, and India, and lowered for Ukraine.
    • Brazil’s 2020/21 soybean crop is raised 2 million tons to 133 million.
    • Soybean production forecasts for Canada and India are raised on recent government data and planting progress reports.
    • Ukraine’s soybean production is lowered due to low rainfall throughout August.
    • Global soybean exports are raised 0.9 million tons to 166.3 million, with higher exports for Brazil and lower exports for Ukraine based on available supplies.
    • Global ending stocks are reduced 1.8 million tons to 93.6 million.

    • Barley production is raised for Russia, the EU, and Australia.
    • Barley export has increased for Russia and Australia.

    August 2020

    • For 2020/21, the EU corn production is lowered, mostly reflecting reductions for Romania and France that are partially offset by increases for several countries including Poland, Italy, and Hungary.
    • Ukraine corn production is forecast higher, largely reflecting higher expected area.
    • Other notable corn production changes include projected increases for Mozambique and Malawi, with reductions for Canada and Thailand.
    • Major global coarse grain trade changes for 2020/21 include corn export increases for the United States, Ukraine, and Burma.
    • Corn imports are raised for the EU, Canada, and Thailand, but reduced for India.
    • Corn ending stocks are increased for Indonesia and decreased for Canada and India.

    • For 2020/21 wheat production is lowered 4.0-million-ton for the EU and 1.0-million-ton each for Kazakhstan and Turkey. These changes are partially offset by a 1.5-million-ton production increase for Russia and a 1.1-million-ton increase for Brazil. The production changes are based on updated harvest results and government estimates.
    • Global beginning stocks are raised 3.8 million tons, reflecting several mostly offsetting changes as well as a 3.5 million ton increase for the EU, which is based on multi-year revisions to both use and stocks.
    • Consumption is lowered by a 1.0-million-ton reduction for EU feed and residual use based on the smaller crop.
    • Global exports are lowered fractionally with several offsetting changes including a 1.5-million-ton cut for the EU, and a 0.8-million-ton reduction for Kazakhstan, both on reduced production. These are offset by a 1.5-million-ton export increase for Russia, based on increased supplies, and a 0.7-million-ton increase for the United States.
    • With global use down more than supplies, world ending stocks are revised 2.0-million-tons higher to a record 316.8 million tons.

    • Global 2020/21 soybean trade is raised 3.9 million tons, with higher exports for Brazil, Argentina, and the United States. This is parallel to higher imports for China, Thailand, Argentina, Egypt, and India.
    • Soybean crush for China is raised 3.0 million tons to 98.0 million in 2020/21.
    • With higher global soybean production mostly offset by higher use, mainly in China, global ending stocks are increased 0.3 million tons to 95.4 million.

    • Barley production is lowered for the EU, Kazakhstan, Argentina, and Ukraine.

    July 2020

    • This month’s 2020/21 foreign coarse grain outlook is for virtually unchanged production, slightly higher trade, and lower stocks relative to last month.
    • Corn production is increased for Russia and Bolivia. These increases are essentially offset by a reduction for Canada.
    • Major global trade changes for 2020/21 include larger corn imports for Canada and Algeria, with a partly offsetting reduction for Kenya.
    • For 2019/20, corn exports are raised for Argentina but lowered for Brazil for the local marketing year beginning March 2020 based on observed data through early July.
    • China’s corn feed and residual use for 2019/20 and 2020/21 is raised from last month.
    • Corn ending stocks for 2020/21 are lowered, from last month, for China, Argentina, the EU, Canada, and Mexico.

    • The 2020/21 global wheat outlook is for smaller supplies, reduced consumption, lower exports, and decreased stocks.
    • Supplies are reduced 2.9 million tons to 1,066 million as larger beginning stocks are more than offset by reduced production, primarily in the EU, United States, Morocco, and Russia.
    • EU production is lowered 1.5 million tons to 139.5 million, mainly on reductions for France and Spain. If realized, this would be the smallest EU wheat production since 2012/13. Morocco is lowered 800,000 tons to 2.7 million, the smallest output since 2007/08, primarily on updated government estimates. Russia is reduced 500,000 tons to 76.5 million.
    • Projected 2020/21 global trade is reduced 0.8 million tons to 188.0 million as lower EU exports are only partially offset by higher Australian exports.
    • World consumption is lowered 1.6 million tons to 751.6 million, primarily on reduced feed and residual use in the EU, the United States, and Morocco.
    • Projected 2020/21 world ending stocks are lowered 1.3 million tons to 314.8 million but remain record-large with China and India accounting for 51 and 10 percent of the total, respectively.

    • For 2020/21, canola production is lowered for Canada based on updated government data.

    • Soybean production is lowered for Canada and Uruguay, resulting in lower 2020/21 exports for both countries.
    • The 2020/21 global soybean ending stocks are reduced 1.3 million tons to 95.1 million as lower stocks for Brazil and China are partly offset by higher U.S. stocks.
    • For Brazil, the 2019/20 crop is increased 2 million tons to 126 million, reflecting higher yields.
    • Exports are increased 4 million tons to 89 million, leading to a 2-million-ton reduction to ending stocks. The local year exports (February 2020-January 2021) are also increased 2.5 million tons to 79.5 million.
    • China’s 2019/20 balance sheet changes include a 2-million-ton increase in imports to 96 million, resulting in higher ending stocks. For 2020/21, China’s higher beginning stocks are offset by higher crush, leading to lower ending stocks.

    • For 2020/21, barley production is lowered for the EU and Morocco but raised for Canada.

    June 2020

    • Brazil corn production is raised based on higher expected area.
    • For 2019/20, Brazil corn production is unchanged, as higher indicated area is offset by a reduction in yield.
    • Major global trade changes for 2020/21 include a larger corn export forecast for Zambia, with increases in corn imports for Thailand and Honduras.
    • For 2019/20, corn exports are raised for Argentina but lowered for Brazil.
    • Corn ending stocks for 2020/21 are reduced for China, Argentina, South Africa, and Paraguay and more than offset increases for Brazil and India.

    • World 2020/21 wheat supplies are raised 5.7 million tons on a 4.9-million-ton production increase and higher beginning stocks.
    • India production is raised 4.2 million tons, and Australia is up 2.0 million, both on updated government statistics.
    • India’s crop is projected to be record-large, and Australia’s crop is expected to rebound on improved conditions following two consecutive years of drought. Turkey and China are both increased by 1.0 million tons. Partly offsetting these changes are crop reductions of 2.0 million tons for the EU and 1.5 million for Ukraine, both reflecting dry conditions during key parts of the growing season.
    • Projected 2020/21 global exports are raised 0.9 million tons to 188.9 million, led by a 2.0-million-ton increase for Australia on larger supplies, and a 1.0-million increase for Russia on reduced export competition from Ukraine. Exports are lowered 1.5 million tons for Ukraine and 0.5 million for the EU, both on smaller crops.
    • World ending stocks are raised 6.0 million tons to a record-high 316.1 million, with China and India accounting for 51 percent and 10 percent of the total, respectively.

    • A notable revision to production is for EU canola, lowered 0.2 million tons to 16.8 million, based largely on lower yields for Germany. The EU revision is offset by higher Australian canola production.

    • The 2020/21 global oilseed supply and demand forecasts include slightly higher production and lower ending stocks compared to last month.
    • The 2020/21 soybean ending stocks are lowered 2.1 million tons to 96.3 million.
    • For 2019/20, soybean exports are increased 1 million tons each for Argentina and Brazil. Partly offsetting is reduced 2019/20 U.S. exports. These revisions result in higher stocks for China and lower stocks for South America.

    • Barley production is raised for the EU, based mostly on a forecast increase for the United Kingdom that is partly offset by a reduction for France. Barley production is raised for Australia, but lowered for Ukraine, India, and Russia.
    • Barley exports are lowered for Australia, based on a reduction in projected imports for China.

    April 2020

    • Corn production is raised for the EU and Belarus, with partly offsetting reductions for Indonesia and Laos. 
    • Major global trade changes for 2019/20 include higher projected corn exports for the EU, with a partially offsetting reduction for Russia.  
    • Corn imports are raised for South Korea, Turkey, Algeria, and Indonesia, with lower projections for Vietnam, Taiwan, Cuba, and Mexico. 
    • Corn ending stocks are raised for Thailand, Taiwan, India, and Turkey and more than offset declines for Argentina and Mexico. 
    • Global corn ending stocks, at 303.2 million tons, are up 5.8 million from last month.    

    • The 2019/20 global outlook is for slightly higher supplies, but reduced trade and utilization.  
    • Global production is lowered fractionally with several small mostly offsetting changes. 
    • Global exports are lowered 0.9 million tons, led by a 1.5-million-ton reduction for Russia, which was directly offset by an equivalent increase for the EU.  The Russia change is based primarily on newly imposed government export restrictions.  The EU is raised on less competition from Russia as well as expectations of a continued strong pace of exports.  Several smaller export reductions are made; notably a 0.4-million-ton reduction for the United States and a 0.3-million-ton reduction for Pakistan. 
    • Global imports are reduced 0.3 million tons each for Brazil, Japan, and Uzbekistan; a 0.3-million-ton increase for Morocco is partially offsetting.  
    • Aggregate world consumption is lowered 5.1 million tons following updates to several countries.  The largest reductions are 2.0 million tons for China, 1.9 million for India, and 1.0 million for the EU.  With supplies higher and use down, projected 2019/20 global ending stocks are raised 5.6 million tons to a record high 292.8 million.

    • Global soybean production is reduced 3.7 million tons to 338.1 million on lower production for Argentina and Brazil.  Argentina’s production is lowered 2 million tons to 52 million, reflecting dry conditions in the main growing regions during the latter part of February into early March.  Soybean production for Brazil is lowered 1.5 million tons to 124.5 million due to dry conditions in Rio Grande do Sul while the crop was in pod-filling and maturation stages.  
    • Global soybean exports are lowered 0.4 million tons to 151.5 million.
    • U.S. and Canadian exports are lowered while Brazil’s shipments are revised up due to a competitive exchange rate and ample exportable supplies.
    • China’s imports are raised 1 million tons to 89 million, reflecting higher Brazilian shipments. 
    • Global soybean ending stocks are 2.0 million tons lower than last month as lower stocks in Brazil are partly offset with higher U.S. and Chinese stocks.

    March 2020

    • Global corn production is raised 0.4 million tons, as an increase for South Africa is partially offset by reductions for India, Peru, and Russia. For South Africa, production is higher as continued favorable conditions during the month of February boost yield prospects.
    • Major global trade changes for 2019/20 include higher projected corn exports for Ukraine, South Africa, and the EU.
    • For 2018/19, Brazil’s exports for the marketing year ending February 2020 are lowered based on smaller-than-expected late-season shipments. Partly offsetting is an increase for Argentina.
    • Corn imports for 2019/20 are raised for Canada and Peru but lowered for the Philippines.
    • Global corn ending stocks, at 297.3 million tons, are up 0.5 million from last month.

    • The 2019/20 global outlook this month for wheat is for higher production, increased consumption and exports, and lower ending stocks.
    • Output is raised on higher production forecasts for India and Argentina more than offsetting reductions for Turkey and Australia.
    • India’s production is raised 1.4 million tons to a record 103.6 million, mainly on an updated government production estimate.
    • World exports are increased by 0.8 million tons to 183.6 million as higher exports by Russia and Argentina more than offset reductions for Canada and Australia
    • Russia’s exports are increased 1.0 million tons to 35.0 million, primarily on higher projected imports by Turkey as Russia is its leading supplier.
    • Turkey’s wheat imports are raised 2.0 million tons to a record-large 10.5 million on higher consumption, reduced production, and government policies to import additional quantities duty-free to stabilize domestic prices.
    • Turkey’s wheat imports have been rising for the last decade and the country is now projected to be the third-largest importer for 2019/20 behind Egypt and Indonesia.
    • Wheat imports are also higher for Bangladesh as they increased to a record 6.5 million tons on a robust pace.
    • Global consumption is raised 0.7 million tons as increases for Turkey, Bangladesh, and Canada more than offset reductions for the EU, Iraq, and Lebanon.
    • Global ending stocks are projected lower this month but remain record large for the 2019/20 crop year at 287.1 million tons with China comprising 52 percent of the total.

    • Global soybean production is raised 2.4 million tons to 341.8 million, mainly on a 1-million-ton increase for both Argentina (to 54 million) and Brazil (to 126 million).
    • Soybean crush is lowered 1 million tons for Argentina on the current pace to date.
    • With higher South American production and lower use, global soybean stocks are increased 3.6 million tons to 102.4 million.

    February 2020

    • Global corn production is raised 0.8 million tons, with increases for South Africa, Moldova, and Ukraine more than offsetting a reduction for Vietnam.
    • Major global trade changes for 2019/20 include higher projected corn exports for South Africa, Ukraine, and the EU, with a largely offsetting reduction for the United States.
    • Corn imports are raised for Turkey and Brazil, with the latter reflecting larger-than-expected shipments to livestock production areas in the southern part of the country.
    • Corn ending stocks are down from last month, for Vietnam, Brazil, Paraguay, and the EU.
    • Global corn ending stocks, at 296.8 million tons, are down 1.0 million from last month.

    • Global wheat supplies are lowered fractionally on small and mostly offsetting changes to beginning stocks and production.
    • World exports are increased 1.8 million tons led by a 1.0-million-ton increase for the EU on strong shipments and more competitive prices. Kazakhstan is raised 0.8 million tons, also on a fast export pace. United States is increased 0.7 million tons and is projected to have the largest exports in three years. Partly offsetting are export reductions of 0.5 million tons for Canada and 0.3 million tons for Pakistan.
    • World imports for 2019/20 are raised 1.9 million tons led by a 0.8-million-ton increase for China and a 0.7-million-ton increase for Turkey, both on a strong pace to date. There are also several historical revisions for trade, consumption, and ending stocks reflecting updated export data, particularly for Pakistan.
    • For the 2019/20 market year, global consumption and ending stocks are lowered fractionally though world ending stocks remain record large.

    • Sunflowerseed production is increased for Ukraine on a higher yield.

    • Global oilseed production is raised 2.2 million tons to 576.8 million, with higher soybean and sunflowerseed production.
    • Soybean production for Brazil is increased 2 million tons to 125 million due to favorable weather in Mato Grosso as well as improved rainfall in southern and northeastern soybean areas.
    • Global 2019/20 oilseed exports are raised mainly on a 2.4-million-ton increase to soybean trade.
    • China’s soybean imports are increased 3 million tons to 88 million reflecting higher soybean crush. Correspondingly, soybean exports are increased for the United States, Brazil, and Ukraine.
    • Global soybean ending stocks are 2.2 million tons higher than last month, with higher stocks for China and Brazil.

    January 2020

    • Global coarse grain production for 2019/20 is forecast marginally higher to 1,401.8 million tons.
    • Corn production is forecast higher for Bangladesh, Russia, and the EU.
    • Corn exports are increased for Ukraine and the EU. For 2018/19, Brazil’s exports for the marketing year beginning in March 2019 are raised based on observed shipments to date.
    • China’s corn feed and residual use is raised for both 2018/19 and 2019/20 based on lower barley feeding. Global corn stocks, at 297.8 million tons, are down 2.8 million.

    • Wheat production for Russia was reduced with 1.0 million tons based on updated government production data and for Australia was decreased by 0.5-million-tons, reflecting the severe drought conditions in parts of the country. Partly offsetting is a 0.5-million-ton increase for the European Union.
    • Global exports are raised 1.3 million tons. The export increase is led by a 2.0-million-ton increase for the EU on improved price competitiveness and a 0.5-million-ton increase for Ukraine on pace to date. Partly offsetting is a 1.0-million-ton decrease for Russia reflecting lower supplies and higher relative prices.

    • Sunflowerseed production is increased for Russia on higher yields.

    • Chinese soybean crush is increased 0.5-million-ton, due to a higher-than-expected pace to date.

    • Barley production is increased for the EU and reduced for China and Australia.
    • Barley exports for 2019/20 are raised for the EU, Argentina, and Ukraine, with a partly offsetting reduction for Australia. Barley imports are raised for Turkey and China.

    December 2019

    • China’s corn production is raised, reflecting increases to both area and yield, based on the latest data from the National Bureau of Statistics. 
    • Canada’s corn production is lowered, as an increase in harvested area is more than offset by a reduction in yield. 
    • Corn production is forecast higher for Bolivia 
    • Corn exports are lowered for Canada, Laos, and Mexico. 
    • Corn ending stocks are raised for China, Bolivia, and Taiwan and decreased for Canada, Colombia, and Paraguay. 
    • Global corn stocks, at 300.6 million tons, are up 4.6 million from last month.

    • The Argentina and Australia wheat crops are cut 1.0 million tons and 1.1 million tons, respectively, both on continued drought conditions.  The Argentina crop is now pegged at 19.0 million tons and Australia’s crop is estimated to be 16.1 million tons.  This is Australia’s smallest crop since 2007/08.
    • Canada’s crop is cut 0.7 million tons to 32.4 million on updated government data.  Partly offsetting is a 1.6-million-ton production increase for China to 133.6 million on updated National Bureau of Statistics data.
    • The EU and Russia crops are each raised 0.5 million tons reflecting updated harvest data.  
    • Projected 2019/20 global exports are reduced 0.9 million tons as reductions for Argentina, Australia, and Canada are partly offset by increases for Russia and the U.S. 
    • With global use down 1.4 million tons, world ending stocks are raised 1.2 million tons to a record 289.5 million tons
    • China’s 2019/20 ending stocks are raised 1.8 million tons to 147.5 million and account for 51 percent of the global total.  

    • Sunflower seed production is forecast higher for Russia and Ukraine. Sunflower yields for both Ukraine and Russia established new record highs based on a continuing strong upward yield trend, seasonably cool temperatures, and timely mid-summer rainfall. 

    • Rapeseed production is forecast lower for Canada.

    • China’s soybean production is projected up 1.0 million tons to 18.1 million reflecting higher area and yield reported by the National Bureau of Statistics.
    • Global 2019/20 soybean exports are reduced 0.6 million tons to 149.0 million on a lower forecast for Argentina. 
    • Soybean imports are reduced for Vietnam, offset by higher soybean meal imports.
    • Global soybean stocks are forecast higher this month on increases for China and Brazil.

    November 2019

    • Corn production is forcast higher for African countries, as well as Russia and Turkey and lower for Mexico, Ukraine, and the EU.
    • For Mexico, production is lowered as area for summer season corn is expected to be the lowest on record.
    • Yield forecasts for Russia and Ukraine are raised and lowered, respectively, based on observed harvest results to date.
    • Corn exports are raised for Brazil and Russia, with reductions for the United States and Mexico.
    • For 2018/19, corn exports for Brazil are raised for the local marketing year beginning March 2019, based on shipments observed through October.
    • For 2019/20, corn imports are raised for Vietnam, Colombia, Japan, and South Korea. Partly offsetting, are reductions for Iran, Egypt, Malaysia, and Turkey.
    • Corn ending stocks for Brazil, Iran, Mexico, China, and Argentina are lower relative to last month. These are partly offset by small increases for several African countries.
    • Global corn ending stocks, at 296.0 million tons, are down 6.6 million.

    • Supplies are raised with increased production forecasts for the EU, Russia, and Ukraine more than offsetting reductions for Argentina and Australia.
    • EU and Russia production forecasts are raised to 153.0 and 74.0 million tons, respectively, on updated harvest results.
    • Australia’s production is lowered to 17.2 million tons on further damage from the continent’s severe drought and is now forecast lower than last year’s drought-affected crop.
    • Argentina’s production is reduced to 20.0 million tons on dry conditions but remains record large.
    • World exports are raised by 1.0 million tons to 180.7 million on increases for the EU, Russia, and Ukraine more than offsetting reductions for Argentina and Australia.
    • Global consumption is nearly unchanged at 755.2 million tons, which is 3 percent greater than last year.

    • Sunflowerseed production is reduced for Argentina.

    • Rapeseed production is reduced for Australia and the European Union.

    • Soybean production for India is reduced 2.0 million tons to 9.0 million on lower yields resulting from excessive late-season rainfall.
    • Soybean production is also reduced for Canada on lower yields.
    • Soybean crush changes for 2019/20 include reductions for India, China, and Canada.
    • Soybean ending stocks for 2019/20 are reduced for Argentina, Canada, and India only partly offset with higher forecasts for Brazil and Egypt.

    October 2019

    • The increase for corn production in Russia is more than offset by declines for Egypt and Syria.The projected corn yield for Russia is raised based on reported harvest results to date.
    • Corn exports are raised for Russia, with a more than offsetting decline for the United States.
    • For 2018/19, corn exports for Brazil are raised. From July to September Brazil has exported close to 20 million tons of corn, nearly 50 percent above the previous high for the time period, with large shipments to important U.S. markets such as Japan, South Korea, Mexico, and Colombia.
    • For 2019/20, corn imports are lowered for Saudi Arabia, Mexico, Venezuela, Cuba, and Bangladesh. Corn ending are increased for Brazil, Canada, and the EU. Global corn stocks, at 302.6 million, are down 3.7 million from last month.

    • Global 2019/20 wheat supplies are raised fractionally with decreased production offset by higher beginning stocks.
    • World production is lowered 0.3 million tons led by a 1.0-million-ton cut to Australia’s crop on further drought effects. The United States is lowered 0.5 million tons, and Canada and Serbia are each reduced 0.3 million tons. Partly offsetting are production increases of 1.0 million tons for the EU and 0.7 million tons for Turkmenistan, both on updated harvest reports.
    • Projected global exports for 2019/20 are lowered 1.2 million tons led by a 1.0-million-ton reduction for Australia reflecting their smaller crop.
    • Total imports are decreased 1.1 million tons with the United States, Turkmenistan, Venezuela, and Kyrgyzstan accounting for most of the decline.
    • World wheat consumption is reduced 1.1 million tons primarily on a 0.8-million-ton reduction in U.S. feed and residual use. With supplies rising and use declining, global ending stocks are raised 1.3 million tons to a record 287.8 million.

    • Sunflowerseed production is is forecast lower for Ukraine.

    • Global rapeseed production is forecast lower on reductions for Canada, Australia, the EU, and the United States. Canadian rapeseed production is reduced on lower yield prospects resulting from an unseasonably heavy snow and a season-ending freeze.

    • Global oilseed production for 2019/20 is projected at 574.8 million tons, down 4.6 million from last month on lower soybean, sunflowerseed and rapeseed.
    • Global soybean production is projected at 339.0 million tons, down 2.4 million to a 4-year low, mainly reflecting lower production for the United States.
    • Soybeans stocks are projected lower for the United States and are only partly offset by increases for Argentina and Brazil.

    September 2019

    • This month’s 2019/20 foreign coarse grain outlook is for virtually unchanged production, with fractionally lower trade and stocks relative to last month. 
    • Ukraine corn production is lowered, as dry conditions during the month of August reduce yield prospects for filling corn. EU corn production is unchanged, as reductions for France and Germany offset increases for Bulgaria and Romania. 
    • For 2018/19, corn exports for Brazil are raised for the local marketing year beginning March 2019, based on record large shipments during the month of August.
    •  Foreign corn ending stocks for 2019/20 are lower relative to last month, mostly reflecting declines for Brazil, Ukraine, Mexico, Paraguay, and Chile.

    • The global outlook for wheat this month is for lower supplies, reduced consumption and exports, and higher ending stocks.  
    • Supplies are reduced primarily on lower production forecasts for Australia and Kazakhstan on continued dry conditions. 
    •  Australia’s production is lowered 2 million tons to 19.0 million, mainly on the second consecutive year of drought in New South Wales and Queensland.  Kazakhstan’s wheat production is lowered 1.5 million tons to 11.5 million on further deteriorating conditions, and this would be its lowest output since 2012/13.  This reduction in global production is tempered by higher carry-in stocks, which results in global supplies less than 1 million tons lower this month.  
    • World exports are decreased by 1.8 million tons to 180.8 million on reductions for Australia and Kazakhstan. 
    • Global consumption is lowered 1.9 million tons, led by declines for Indonesia, Russia, Uzbekistan, and Ukraine. 
    • Despite a reduction this month in global supplies, 2019/20 ending stocks are projected record large at 286.5 million tons with China comprising 51 percent of the total.

    • "Global rapeseed production is at a 3-year low, mainly reflecting lower production for the EU on both area and yield.
    •  Australia’s production is also lowered this month due to dry weather conditions in New South Wales and Queensland."

    • This month’s 2019/20 global oilseed outlook includes lower production, increased trade, and reduced stocks relative to last month. 
    • Soybean production is down slightly this month as lower U.S. production is mostly offset by higher output for India, Canada, and China.
    • Major global oilseed export changes for 2019/20 include higher rapeseed and soybean exports for Canada.
    •  For 2018/19, soybean exports for Brazil are lowered based on lower-than-expected shipments during the past few months. However, higher-than-expected exports by Argentina and the United States, particularly to China, are offsetting. 
    • Global soybean ending stocks for 2019/20 are lower as reduced stocks for Argentina and the United States are partly offset by higher stocks for Brazil, Iran, and India.

    • Barley production is raised for Russia, Ukraine, the EU, and Kazakhstan, but lowered for Australia and Canada.
    • Major global coarse grain trade changes for 2019/20 include barley export increases for Ukraine, Kazakhstan, and Russia, with a partly offsetting reduction for Australia. 

    August 2019

    A scazut productia cu 2 milioane tone in Turcia. Pentru UE, Kazakhstan si Rusia de asemenea a scazut estimarea cu 1.3, 1.0 respectiv 1.2 milioane. Aceste reduceri sunt bazate pe datele la recoltare până in prezent. Si in Moldova ar urma sa scada productia cu 0.2 milioane tone. Doar in Argentina si Ucraina a crescut cu 0.5 si respectiv 0.2 milioane.

    Exporturile au scazut in Kazakhstan, UE, si Rusia. In schimb se estimeaza ca vor creste in SUA Argentina si Ucraina.

    Pentru 2019/20 se estimează o scădere a consumului global (furaj, alimentatie, uz industrial etc). Dar din cazua că scăderea producției e mai mare decât scăderea consumului, stocurile finale ar urma sa fie si ele mai mici in 2019/20 (cu 1.1 milioane tone mai mic aprox.). Totusi raman la nivel record, chiar si asa.

    July 2019

    • Ukraine corn production is raised, reflecting increased area.
    • For 2018/19, Argentina corn production is higher based on harvest results to date.
    • Major global trade changes for 2019/20 include higher corn exports for Ukraine, with increased imports for Zimbabwe.
    • For 2018/19, corn exports are raised for Argentina and Brazil reflecting higher-than-expected shipments during the month of June.
    • Corn ending stocks are virtually unchanged from last month.

    • In season 2019/20, the wheat supplies outside U.S. are decreased 10.5 million tons primarily on lower production in several major exporting countries.The production declines are led by a 3.8-million-ton reduction for Russia due to extremely high temperatures and below-average precipitation in June during winter wheat grain fill.
    • Russia’s production of 74.2 million tons is still the second largest on record.
    • EU and Ukraine wheat production are lowered on hot and dry conditions during June, which are expected to reduce yields although production in both countries remains well above last year.
    • Australia and Canada productions are lowered as well, mainly on reduced area, based on recent government reports.
    • Global 2019/20 exports are lowered 2.3 million tons on decreased supplies.
    • Russia’s exports are reduced 2.5 million tons and Australia and Ukraine are lowered 1.0 million and 0.5 million, respectively. These export reductions are partially offset by a 0.5 million ton increase for the EU and a 1.4 million increase for the United States.
    • World consumption is lowered 2.9 million tons, primarily on reduced feed and residual use. With global supplies declining more than projected use, world ending stocks are reduced 7.9 million tons to 286.5 million but remain record large.

    • Sunflowerseed production is projected lower for Russia.

    • Rapeseed production is reduced for the EU, Australia, and Canada. Hot, dry weather during June has reduced yield prospects for the EU. Production is reduced for both Australia and Canada on lower harvested area.

    • Global oilseed production is projected at 586.0 million tons, down 11.7 million mostly on lower soybean production for the United States.
    • Soybean production is also reduced for Canada and Ukraine.
    • Lower soybean exports for the United States are offset with increases for Brazil, Argentina, and Uruguay. Global oilseed ending stocks for 2019/20 are reduced 10.7 million tons to 119.5 million, mainly on lower soybean stocks for the United States, Argentina, and Brazil.

    • Barley production is raised for Canada but lowered for Ukraine and India.

    June 2019

    • Argentina corn production is raised on increased area with higher prices.
    • Canada corn production is lowered on reductions to both area and yield with planting delays in Ontario.
    • Russia corn production is higher based on government data indicating larger-than-expected planted area.
    • For 2018/19, Brazil corn production is raised based on the latest government statistics.
    • Major global trade changes for 2019/20 include larger forecast corn exports for Argentina and Russia, with a partly offsetting reduction for Zambia. For 2018/19, exports are raised for Brazil and Argentina.
    • Corn ending stock outside U.S. are lowered from last month mostly reflecting reductions for Argentina, Brazil, Canada, and the EU.

    • World 2019/20 wheat supplies are raised 4.9 million tons on a 1.6-million-ton increase in beginning stocks and a 3.3-million-ton increase in global production.
    • India’s wheat crop is raised 1.2 million tons on updated government data.
    • Production in Russia and Ukraine are each raised 1.0 million tons reflecting favorable weather to date.
    • Projected 2019/20 global trade is expanded 0.8 million tons with a 1.0-million-ton increase for Russia and a 0.5-million-ton increase for Ukraine, both due to larger crops.
    • Russian exports are now projected at 37.0 million tons and Ukraine exports are projected at a record 19.5 million. Partly offsetting is a 0.5-million-ton decrease for EU exports with greater competition from Black Sea origins.
    • Projected 2019/20 world consumption is raised 3.6 million tons on both higher food and feed and residual use.
    • With supplies rising more than use, ending stocks are projected up 1.3 million tons to a record 294.3 million.

    • The 2019/20 global soybean supply and use projections include lower production and stocks compared to last month.
    • Global production is down 0.3 million tons to 355.4 million due to lower crops for Ukraine and Zambia.
    • The 2019/20 soybean ending stocks are lowered 0.4 million tons mainly reflecting lower carryin due to revisions to 2018/19 balance sheets.
    • Beginning stocks for 2019/20 are reduced for Argentina and China offsetting higher stocks for the United States.
    • For Argentina, stocks are lowered on a 1.5-million-ton increase to exports to 7.8 million for 2018/19 based on the recent pace of shipments.
    • Beginning stocks are lowered for China due to a 1-million-ton decrease to imports to 85 million for 2018/19.

    • Barley production is lowered for the EU reflecting a reduction for Spain.

    May 2019

    • World corn production is forecast record high, with the largest increases for the United States, South Africa, Russia, Canada, India, and Brazil.  Partly offsetting are smaller crops projected for China and Ukraine. 
    • Global corn use is expected to grow 1 percent, while global corn imports are projected to increase 2 percent.  Notable forecast increases in corn imports include China, Iran, Kenya, Mexico, Saudi Arabia, Turkey, and Vietnam.  
    • Global corn ending stocks are down 11.2 million tons from a year ago, mostly reflecting a forecast decline for China. 
    • Outside of China, stocks are up 6.8 million tons, and if realized would be the highest since 2016/17.  
    • For China, total coarse grain imports are forecast at 15.1 million tons, up 2.7 million from 2018/19. Corn imports are forecast to increase, based on expectations of sharply reduced sorghum imports and a wider price wedge between China’s domestic and world market prices relative to a year ago, particularly in the feed deficit South.  

    • The initial outlook for 2019/20 international wheat is for larger supplies, increased trade, greater consumption, and higher ending stocks. 
    • Foreign supplies are projected to increase 38.5 million tons to 966.4 million as all of the major wheat exporters (Argentina, Australia, Canada, EU, Russia, and Ukraine) are expected to have higher production for 2019/20. 
    • The EU is projected to have the largest increase to 153.8 million tons, as it recovers from last year’s drought.  Russia is projected to have its second-largest wheat production on record at 77.0 million tons. 
    • Collectively, the major foreign exporters’ projected output rises 33.9 million tons, up 11 percent from last year.  Additionally, the Middle East region is expected to have significantly larger production with abundant rainfall as both Iran and Iraq are projected to have record output while Syria and Turkey have near-record production. 
    • Projected 2019/20 global trade is 6.7 million tons or 4 percent higher at 184.6 million with greater exportable supplies and lower expected export prices.
    • Russia is projected as the leading world wheat exporter for the third consecutive year with exports at 36.0 million tons, down slightly from 37.0 million for 2018/19.  But all other major foreign exporters are projected to have higher exports than last year. 
    • Projected 2019/20 world consumption increases 21.6 million tons from last year to a record-large 759.5 million tons with both food, seed, and industrial use and feed use significantly higher.  Global ending stocks increase 18.0 million tons or 7 percent to a record-large 293.0 million. 
    • World stocks less China are projected at 146.8 million tons, up 11.8 million from last year.   

    • Global production of high-oil content seeds (rapeseed and sunflowerseed) is projected up 1 percent from 2018/19 on increased rapeseed production for Australia and Ukraine, which is partly offset by lower production for the EU and India. 
    • Sunflowerseed crops for Turkey, Russia, and Ukraine are also lower.
    • Global vegetable oil production is projected to increase 2 percent to 208.2 million tons, led by increases for palm oil production for Indonesia, soybean oil for Argentina, and sunflowerseed oil for Russia.

    • Global production of high-oil content seeds (rapeseed and sunflowerseed) is projected up 1 percent from 2018/19 on increased rapeseed production for Australia and Ukraine, which is partly offset by lower production for the EU and India.

    • Global oilseed production for 2019/20 is projected at 598.0 million tons, down 2.9 million from 2018/19. 
    • Global soybean production is forecast at 355.7 million tons, down 6.4 million with lower production for the United States, Argentina, and Canada partly offset by a higher Brazilian crop.  
    • Brazil’s soybean production is projected at a record 123.0 million tons, up 6.0 million on higher area and trend yield.
    • Argentina’s soybean production is forecast at 53.0 million tons, down 3.0 million from the revised 2018/19 forecast due to a lower trend yield.  
    • China’s soybean production is projected 1.1 million tons higher to 17.0 million on reported higher planting intentions.  
    • Global soybean beginning stocks for 2019/20 are forecast to increase 14.1 million tons compared to 2018/19, leading to higher supply despite lower production. 
    • Global soybean exports at 151.2 million tons are also relatively flat compared to 2018/19.  
    • China’s soybean imports are projected at 87.0 million tons, up only 1.0 million from the revised 2018/19 projection and significantly lower than growth seen in prior years.  With stagnant trade and a 2 percent increase for crush offsetting the higher global supply, ending stocks at 113.1 million tons are forecast to decline slightly from 2018/19. 

    April 2019

    • The global coarse grain production forecast for 2018/19 is up 5.3 million tons to 1,377.2 million.
    • Brazil corn production is raised, reflecting improved yield prospects for second-crop corn. Argentina corn is higher based on expectations of larger area.
    • Corn production is raised for the EU, Mexico, and Indonesia, with reductions for the Philippines and Pakistan.
    • Major global trade changes for 2018/19 include higher projected corn exports for Brazil, Argentina, the EU, and Ukraine with a partially offsetting reduction for the United States.
    • Corn imports are raised for the EU and South Africa, with lower projections for Vietnam and Bangladesh.
    • Corn ending stocks for 2018/19 are raised for Mexico, Indonesia and South Africa, more than offset the declines for Vietnam, Brazil, Pakistan, Bangladesh, and Argentina.

    • World 2018/19 wheat supplies are raised 2.1 million tons due mainly to increased beginning stocks that largely reflect multi-year revisions for Iran
    • Global production and exports are each reduced fractionally, but domestic consumption is lowered 2.9 million tons.
    • The consumption change stems primarily from lower Iran and EU feed and residual use; Iran is lowered on the series revision and the EU reduction is based on more competitive corn prices and increased coarse grain disappearance.
    • With supplies increasing and total use declining, global ending stocks are raised 5.1 million tons to 275.6 million.
    • The outlook for 2018/19 U.S. wheat this month is for unchanged supplies but reduced exports and domestic use.

    • Global oilseed exports are reduced 1.0 million tons to 177.1 million mainly on lower rapeseed trade between Canada and China.
    • With lower rapeseed crush for China, imports are increased for other products, including sunflowerseed meal, rapeseed meal, palm oil, and soybean oil.
    • Global oilseed ending stocks are raised 1.5 million tons to 123.2 million, largely due to higher soybean stocks for Brazil and rapeseed stocks for Canada.

    • Global oilseed ending stocks are raised 1.5 million tons to 123.2 million, largely due to higher soybean stocks for Brazil and rapeseed stocks for Canada.

    February 2019

    • Corn production in 2018/19 is forecast higher for Argentina, China, and Ukraine more than offsetting reductions for South Africa and Mexico.
    • Argentina’s corn production is up based on higher expected area and yield, with abundant rainfall and benign temperatures over the past two months boosting yield prospects.China and Ukraine are higher based on the latest official statistics.
    • Corn production in South Africa is lowered as heat and dryness during the month of January.
    • Corn ending stocks are increased for Argentina and China. Global corn stocks, at 309.8 million, are up 1.0 million.

    • World production for the 2018/19 market year is raised 1.3 million tons, led by a 1.6-million-ton increase for Russia, a 0.6-million-ton increase for Brazil, and a 0.5-million-ton increase for Paraguay. These changes are partly offset by a 1.1 million ton decrease for China and a 0.3-million-ton decrease for Argentina. All these production changes reflect updated government statistics and harvest results.
    • Global wheat exports are raised 1.3 million tons led by a 0.7-million-ton increase for Pakistan.
    • Russian exports are raised 0.5 million tons and Paraguay is raised 0.4 million tons, both on larger exportable supplies. Australia’s exports are lowered 0.5 million tons on a slow pace to date, and Argentina exports are down 0.2 million tons reflecting the smaller crop.
    • Global use for 2018/19 is raised 2.0 million tons, primarily on a 2.0-million-ton increase in China feed and residual use. With global use rising more than supplies, world ending stocks are lowered 0.6 million tons to 267.5 million.

    • The 2018/19 global soybean outlook includes lower production, exports, crush, and stocks. Global soybean production is lowered 8.2 million tons to 361.0 million with lower crops for Brazil, Argentina, Paraguay, Uruguay, and South Africa.
    • Production for Brazil is lowered 5 million tons to 117 million due to dryness in parts of the South and Center-West regions.
    • Production for Argentina is lowered 0.5 million tons to 55 million due to a reduction in harvested area that is partly offset by increased yields.
    • Global soybean exports are reduced 1.7 million tons to 154.4 million. Lower exports for Brazil, Uruguay, and Paraguay are partly offset by higher exports for Argentina.
    • Global imports are also reduced mainly on a 2-million-ton reduction for China.
    • Global 2018/19 soybean marketing-year ending stocks are lowered 8.6 million tons this month to 106.7 million, which is an 8.6-million-ton increase over the 2017/18 estimate.
    • With Argentina’s 2018 crop falling 30 percent below initial projections due to the drought, soybean stocks are assumed to be lower than prior estimates.

    • China’s barley imports are reduced, while barley exports are lowered for Australia. 

    January 2019

    No report was released in January 2019 due to US Government shutdown.

    December 2018

    • Total oilseed production is estimated to 600.5 milion tons, with an increase of 0.9 milion tons.

    November 2018

    • Production, domestic consumption, and ending stocks of corn for China are revised beginning with the 2007/08 marketing year. For the time period encompassing the 2007/08 to 2017/18 marketing years, NBS increased corn total production by an unprecedented 266 million metric tons.
    • Corn production for China is forecast higher.
    • Aside from China, corn production is forecast higher for Ukraine, Argentina, Kenya, Moldova, and Russia EU corn production is lowered, mostly reflecting reductions for Hungary, Poland, and Germany.
    • Corn exports are raised for Ukraine, Argentina, and Moldova. Imports are raised for the EU, Vietnam, and Iran.
    • Not including China and U.S, corn ending stocks are higher than last month, mostly reflecting increases for Argentina, Iran, Paraguay, and Vietnam.

    • Global 2018/19 wheat supplies are raised 6.7 million tons on both increased production and beginning stocks. The vast majority of this change stems from the updated production data released by China’s NBS (National Bureau of Statistics), which made significant production changes from 2007/08 through 2017/18.
    • China’s 2018/19 production forecast is raised with both higher harvested area and yield, based on the NBS (National Bureau of Statistics) revisions.
    • Total 2018/19 global production is raised 2.6 million tons, but is down 1.9 million tons excluding the China revision.
    • Australia’s crop is lowered 1.0 million tons to 17.5 million on continued drought. Morocco, Pakistan, and Ukraine are lowered 0.9, 0.8, and 0.5 million tons, respectively. A 0.9-million-ton production increase for Algeria is partly offsetting.
    • Global exports are lowered 1.6 million tons with almost all of that from Australia reflecting the smaller crop.
    • Australia exports are lowered 1.5 million tons to 11.5 million, the lowest total since 2007/08.
    • With supplies rising more than use, global ending stocks are raised 6.5 million tons to 266.7 million. However, stocks outside of China are down 0.9 million tons.

    • Global oilseed stocks are up 2.4 million tons to 126.2 million mainly on higher stocks of soybeans and sunflowerseed.

    • Global rapeseed production was reduced based on historical revisions issued by China’s NBS.

    • Global soybean production is reduced 2.0 million tons with lower production for the United States and Argentina partly offset by increases for China, India, and Ukraine.
    • Global soybean exports are reduced 2.0 million tons to 155.4 million.
    • Lower U.S. exports are partly offset by a 2-million-ton increase for Brazil and higher shipments out of Ukraine and Russia.
    • China’s soybean imports are lowered 4 million tons to 90 million.
    • South America is expected to capture more of China’s soybean market while the United States is likely to capture more market share in the rest of the world, particularly in the second half of the marketing year when those imports typically trend higher.
    • Global soybean stocks are up 2.0 million tons to 112.1 million, with higher stocks in Argentina, India, and the United States that are partly offset by lower stocks in China and Brazil.

    • Barley imports are raised for Saudi Arabia, with higher exports projected for Russia and Ukraine.

    October 2018

    • Corn production is increased for Egypt, Mali, Kenya, Canada, the EU, and Serbia. These increases are partly offset by reductions for Russia and Malawi.
    • The projected corn yield for Russia is lowered based on reported harvest results to date.
    • Corn exports are reduced for Russia, with more than offsetting increases for the United States, Serbia, and Canada.
    • Corn imports are raised for Mexico and Israel.
    • Corn ending stocks are increased for Mexico, Egypt, and Iran and reduced for South Africa and Turkey.
    • Global corn stocks, at 159.4 million tons, are up 2.3 million from last month.

    • Global 2018/19 wheat supplies are reduced, primarily on lower production forecasts for Australia and Russia.
    • Australia’s wheat production is decreased 1.5 million tons to 18.5 million on continued dry conditions and possible frost damage.  This would be Australia’s smallest production since 2007/08. 
    • Russia’s wheat production is reduced 1.0 million tons to 70.0 million on lower-than-expected yields in some spring wheat areas.
    • Projected global 2018/19 trade is lower, almost all on reduced Australian exports, which are down 1.0 million tons to 13.0 million.
    • Global imports are decreased with Bangladesh, Azerbaijan, and Nigeria accounting for most of the reduction.
    • Projected 2018/19 world consumption is fractionally lower, primarily on less use in Azerbaijan, Bangladesh, Nigeria, and the United States. 
    • Global ending stocks are reduced 1.1 million tons to 260.2 million, down 5 percent from last year’s record.

    • Global soybean output is projected at a record 369.5 million tons, up 0.2 million with higher production for Canada partly offset by lower projections for India, the United States, and Mexico.
    • The soybean crops for India are reduced on lower area harvested based on government reports.
    • Global soybean ending stocks are increased 1.8 million tons to 110.0 million.

    September - 2018

    • Foreign corn production is forecast higher than last month with projected increases for the EU, Angola, Paraguay, Turkey, and Serbia more than offsetting declines for Canada, South Africa, and Guatemala. 
    • EU corn production is raised, mostly reflecting increases for Romania, Hungary, Bulgaria, and France. In both Bulgaria and Romania, yields are expected to be record high. 
    • Corn exports for 2018/19 are raised for Ukraine, Serbia, and Paraguay, but lowered for Canada and South Africa. Imports are raised for the EU, Japan, Brazil, and Guatemala, with partly offsetting declines for Algeria and Saudi Arabia.
    • For 2017/18, exports are lowered for both Brazil and Argentina, reflecting slower-than-expected trade to date.
    • Foreign corn ending stocks for 2018/19 are down from last month, with declines for Argentina, South Africa, Ukraine, Canada, and Serbia more than offsetting increases for Angola, Paraguay, the EU, Brazil, Turkey, and India. Global corn stocks, at 157.0 million tons, are up 1.5 million from last month.

    • Global wheat supplies for 2018/19 are raised 4.7 million tons on a 3.4-million-ton production increase and higher beginning stocks. 
    • The Russian crop is raised 3.0 million tons on harvest results to date in the winter wheat region and continued excellent weather in the spring wheat belt. 
    • Kazakhstan is raised 0.5 million tons also on excellent spring wheat conditions. 
    • Production is increased 2.7 million tons in India to a record 99.7 million on updated government data. These increases are partially offset by a 2.0-million-ton decrease in Australia and a 1.0-million-ton decrease in Canada, both reflecting continued dry conditions during the growing season. 
    • Global exports are lowered 2.5 million tons with a 2.0-million-ton reduction for Australia and a 0.5-million-ton reduction for Canada, both on smaller crops. 
    • Indonesia and Iran imports are down 1.0 million tons and 0.5 million tons, respectively.
    • Global use is raised 2.3 million tons primarily on a 2.0-million-ton increase for Russia feed and residual use and a 1.0-million-ton increase for EU feed and residual use. With total supplies rising faster than use, global ending stocks are raised 2.3 million tons to 261.3 million but are 5 percent below last year’s record.

    • Soybean production is increased 2.2 million tons, with larger crops for the United States and China that are partly offset by lower projections for Canada, India, and Uruguay.
    • Global soybean exports for 2018/19 are reduced 1.1 million tons to 156.9 million, with lower shipments for Canada and Uruguay. 
    • China’s 2018/19 soybean imports are reduced 1 million tons to 94 million as slower growth in protein meal demand and lower crush in 2017/18 continues into the next marketing year. Partly offsetting this change are higher imports for Egypt and Iran. 
    • Global 2018/19 soybean ending stocks are projected 2.3 million tons higher, with increased stocks for the United States and Argentina that are partly offset by reduced stocks for Brazil.

    • World barley production is lowered, with reductions for the EU, Australia, and Ukraine more than offsetting increases for Kazakhstan and Russia.

    August 2018

    • EU corn production is lowered, mostly reflecting reductions for France and Germany that are partially offset by increases for Romania and Bulgaria.
    • Brazil corn production is lowered based on updated expectations for second-crop corn area that will be planted beginning early 2019.
    • Ukraine corn production is forecast higher, as timely rainfall and lack of excessive heat during reproduction boost yield prospects.
    • Other notable corn production changes include projected increases for Zimbabwe, Serbia, and Moldova, with reductions for Zambia and South Africa.
    • Brazil’s corn exports are lowered for 2017/18 based on lower-than-expected shipments.
    • Global corn imports for 2018/19 are raised reflecting expectations of record-high imports for the EU that are partially offset by reductions for Vietnam and Zimbabwe.

    • World 2018/19 wheat supplies are reduced this month by 7.1 million tons, primarily on lower EU production. Continued drought conditions in several northern European countries, most notably Germany, resulted in lower production, down 7.5 million tons to 137.5 million. This would be the lowest EU wheat production since 2012/13.
    • Russia’s wheat production is increased 1.0 million tons to 68.0 million on continued favorable conditions for spring wheat.
    • Projected global 2018/19 trade is lower, mainly on reduced EU exports, which are down 4.5 million tons to 23.0 million, the lowest in six years.
    • Russia’s exports are increased 1.0 million tons to 35.0 million; Russia is projected to remain the leading world wheat exporter for the second consecutive year.
    • Global imports are lowered for several countries with the largest reduction for Algeria. Projected 2018/19 world consumption is 5.1 million tons lower, primarily on reduced feed use in the EU and Russia.
    • Global ending stocks are down 1.9 million tons to 259.0 million, down 5 percent from last year’s record.

    • Sunflowerseed production is higher for the EU, benefitting from favorable weather conditions in southern and southeastern Europe.
    • Sunflowerseed production for Russia and Ukraine is increased due to beneficial weather conditions over the past few weeks.

    • Hot, dry weather in northern Europe resulted in a 1-million-ton reduction to EU rapeseed production.
    • Rapeseed production for Russia and Ukraine is increased due to beneficial weather conditions over the past few weeks.

    • Global oilseed exports for 2018/19 are projected at 182.5 million tons, up 1.2 million with higher soybean exports for the United States and higher rapeseed exports for Ukraine.
    • Global soybean are raised on higher U.S. production.
    • U.S. soybean production is forecast at 124.80 million tons, up 7.5 million on higher yields.

    • Barley production is lowered for the EU, but raised for Ukraine.

    July 2018

    • US:This month’s 2018/19 U.S. corn outlook is for larger supplies, greater feed and residual use, increased exports, and lower ending stocks.  Corn beginning stocks are lowered 75 million bushels as higher forecast exports and food, seed, and industrial (FSI) use more than offset lower feed and residual use in 2017/18.
    • US:  Increased 2017/18 exports are based on record-high shipments during the month of May and export inspection data for June.  Current outstanding export sales are also record high.  FSI use is raised as a projected 25-million-bushel increase in the amount of corn used for ethanol, based on reported use to date, is partially offset by a decline in the amount of corn used for glucose and dextrose.
    • US: With use rising more than supply, stocks are lowered 25 million bushels to 1.552 billion.  The season-average corn price received by producers is lowered 10 cents at the midpoint for a range of $3.30 to $4.30 per bushel.
    • INTERNATIONAL: This month’s 2018/19 foreign coarse grain outlook is for lower production, trade, and stocks relative to last month.
    • Russia corn production is lowered, reflecting reductions to both area and yield.  Extreme heat and dryness in the Southern and North Caucasus districts during the month of June is expected to reduce yield prospects. 
    • Corn production is raised for the EU, but lowered for Canada. 
    • For 2017/18, Brazil corn production is reduced based on the latest government statistics.
    • For 2017/18, corn exports are lowered for Argentina and Brazil. 
    • Major global trade changes for 2018/19 include lower corn exports for Russia, more than offset by increased exports for the United States
    • Corn imports are raised for South Korea and Saudi Arabia, but lowered for Japan and Mexico. 
    • Foreign corn ending stocks are lowered from last month, with the largest declines for China, the EU, and Mexico.   

    • US: Projected U.S. 2018/19 wheat supplies are raised 74 million bushels on increased beginning stocks and higher production.  Forecast 2018/19 U.S. wheat production is raised 54 million bushels to 1,881 million.
    • US: Ending stocks for 2018/19 are raised 39 million bushels this month but are 11 percent below last year’s revised stocks.
    • Foreign 2018/19 wheat supplies are decreased 9.3 million tons primarily on lower production, which is the smallest in three years.  The production declines are led by a 4.4-million-ton reduction for the EU reflecting continued dryness especially in the north.  
    •  Australia, Russia, and Ukraine are lowered 2.0 million, 1.5 million, and 1.0 million tons, respectively, and also reflect continued dryness.
    • China production is reduced 1.0 million tons on lower harvested area as reported by the Ministry of Agriculture.
    • Global 2018/19 exports are lowered 1.9 million tons on decreased supplies.
    • EU exports are reduced 1.5 million tons and Australia and Russia are both lowered 1.0 million tons.
    • These export reductions are partially offset by a 1.0-million-ton increase for Canada and a 0.7-million-ton increase for the United States.
    • Total foreign consumption for 2018/19 is lowered 2.3 million tons on both lower food and feed and residual use.
    • With global supplies declining more than projected use, world ending stocks are reduced 5.3 million tons to 260.9 million.  

    • Sunflowerseed production is down 2.9 million tons mainly for Russia and Ukraine on lower yields from dry conditions.  

    • Rapeseed production is reduced 2.6 million tons with lower production for the EU, Australia, Ukraine, and Russia.  
    • In the EU, rapeseed production is lowered for Germany and the UK on persistent dryness while production is lowered for France on pest pressure.

    • US: This month’s U.S. soybean supply and use projections for 2018/19 include lower supplies, lower exports, higher crush, and higher ending stocks.
    •  Beginning stocks are reduced on increased exports and crush for 2017/18. 
    • Soybean production for 2018/19 is projected at 4.310 billion bushels, up 30 million on increased harvested area.
    • Harvested area, forecast at 88.9 million acres in the Acreage report, is up 0.7 million from last month.
    • Soybean crush for 2018/19 is raised 45 million bushels to 2.045 billion reflecting an increase in projected soybean meal domestic disappearance and exports. 
    • Soybean exports are reduced 250 million bushels to 2.040 billion reflecting the impact of China’s import duties.
    • Despite losing market share in China, soybean exports are supported in other markets as lower U.S. prices increase demand and market share.
    • Soybean ending stocks for 2018/19 are projected at 580 million bushels, up 195 million from last month.

    • Barley production is reduced for Russia, Australia, and the EU, but raised for Canada.

    June 2018

    • Russia corn production is down based on government data indicating lower-than-expected planted area.
    • For 2017/18, Brazil corn production is lowered, as below-normal rainfall in the Center-West and South during May reduces yield prospects for second-crop corn. Area is also reduced based on the latest government statistics.
    • Major global trade changes for 2018/19 include lower forecast corn exports for Russia, with reductions in corn imports for Vietnam, Iran, and Algeria.
    • Corn ending stocks outside US are lowered from last month, mostly reflecting reductions for the EU, Brazil, and Vietnam that more than offset increases for Ukraine and South Africa.

    • World 2018/19 wheat supplies decreased this month by 1.2 million tons on production declines in Russia, the EU, and Mexico not completely offset by higher projected production from India and the United States.
    • Russia’s production is lowered by 3.5 million tons to 68.5 million on adverse weather conditions. Russia’s wheat production is projected down 19 percent from last year’s record 85.0 million tons.
    • EU wheat production is reduced 1.0 million tons to 149.4 million on dry conditions this spring for winter wheat in Germany and Poland.
    • India’s wheat production is raised 2.0 million tons to 97.0 million, based on record yields and supported by reports of higher procurement for the 2018/19 crop compared to last year.
    • Projected global 2018/19 trade is lower, mainly on reduced Russian exportable supplies with a smaller crop. Russia’s exports are reduced 1.5 million tons to 35.0 million, but Russia still remains the world’s leading wheat exporter.
    • Global imports are lowered, mainly on reduced imports for India as the government recently raised its wheat import tariff.
    • Projected 2018/19 world consumption is 3.0 million tons lower, primarily on reduced feed usage for Russia and the EU.
    • Global ending stocks are raised 1.8 million tons this month to 266.2 million but are still below last year’s record 272.4 million.
    • U.S. 2018/19 wheat supplies are increased slightly this month on higher beginning stocks and production. Winter wheat is forecast up 0.16 million tons to 32.60 million.

    • EU rapeseed production is reduced on lower yields for Germany and Poland..

    • Soybean production is up 0.7 million tons to 355.2 million mainly on higher production for Brazil. With higher production, soybean exports for Brazil are revised up for both the 2017/18 and 2018/19 marketing years.
    • Ending stocks for Brazil are increased with higher production and a lower crush estimate for 2016/17.
    • Global 2018/19 soybean ending stocks are increased 0.3 million tons to 87.0 million with higher stocks for Brazil partly offset by lower stocks for the United States and Argentina.
    • Stocks for Argentina are lowered mainly on a 2.0-million-ton reduction to the 2017/18 crop to 37 million.
    • This month’s U.S. soybean supply and use projections for 2018/19 include lower beginning stocks, slightly higher crush, and lower ending stocks.

    • Barley production is reduced for Ukraine, India, and the EU, but raised for Argentina.

    May 2018

    • Corn production is forecast up from a year ago, with the largest increases for China, Brazil, Argentina, Ukraine, and Russia.
    • Global corn use is expected to grow 2 percent, while global corn imports are projected to increase 5 percent.
    • Notable forecast increases in corn imports include Vietnam, China, Bangladesh, Iran, Malaysia, Mexico, and Saudi Arabia.
    • Global corn ending stocks are down 35.8 million tons from a year ago, and if realized would be the lowest since 2012/13.
    • For China, total corn supply is down 11 million tons in 2018/19, as larger production and imports are more than offset by lower beginning stocks.

    • Global wheat supplies for 2018/19 are projected to increase fractionally as higher beginning stocks are partially offset by a production decline following last year’s record.
    • Global wheat production is projected at 747.8 million tons, down 10.6 million from the previous year’s record. Most of the year-over-year production decline stems from a 13.0-million-ton reduction for Russia.
    • Global wheat consumption is projected at a record 753.9 million tons, up 10.1 million from 2017/18.
    • Global imports are expected to increase 3.5 million tons in 2018/19 for the sixth consecutive record.
    • With total use rising faster than supplies, global ending stocks are projected to decline 6.1 million tons to 264.3 million.
    • The 2018/19 U.S. wheat crop is projected at 1.821 million tons, up 5 percent from the prior year.

    • Global soybean production is projected up 17.8 million tons to 354.5 million mostly due to recovery from drought in Argentina.
    • Soybean production for Argentina is projected up 17.0 million tons to 56.0 million.
    • Production for Brazil is flat with the revised 2017/18 crop at 117 million tons as a 4 percent increase in harvested area is offset with a return to trend yields.
    • The 2018/19 soybean crop for China is down 0.1 million tons to 14.1 million with a lower yield and flat harvested area as producers expand area in more profitable crops.
    • Soybean oil production gains are forecast for China.
    • Soybean exports for Argentina and the United States are expected to regain global market share after declining in 2017/18.
    • China soybean imports are forecast to reach a record 103 million tons, up 6 million from 2017/18.
    • Global soybean ending stocks are down 5.5 million tons to 86.7 million.

    April 2018

    • Argentina corn production is down based on reductions to both harvested area and yield. Yield results have been below expectations.
    • Brazil corn production is reduced reflecting expectations of lower second-crop corn area. If realized, the combined corn production of Argentina and Brazil for 2017/18 would be 14.5 million tons below the record reached in 2016/17.
    • Corn production is reduced for Paraguay.
    • Corn production increases for Mexico and South Africa.
    • Corn exports are projected lower for Brazil and Argentina.
    • Corn imports are lowered for Iran, Malaysia, Taiwan, Mexico, and Chile, with partially offsetting increases for Bangladesh and Turkey.

    • World 2017/18 wheat supplies increased this month by nearly 3.0 million tons as production is raised to a new record of 759.8 million, mainly on Morocco’s higher production estimate as it recovered from a severe drought in 2016/17.
    • Global supplies are increased with a multi-year reduction in Iran’s food, seed, and industrial use, which raised stocks by nearly 2.0 million tons. Projected global 2017/18 trade is virtually unchanged on increased exports from Russia, Kazakhstan, and Argentina nearly offsetting lower exports from the EU and other exporters.
    • Russia’s exports are raised 1.0 million tons to 38.5 million, which surpasses last year’s record exports by more than 10 million. Russia continues to displace the EU and other exporters in several markets.
    • Imports are lowered for Morocco, Brazil, and Colombia while increased for Algeria, Ethiopia, Japan, Kenya, Turkey, and the Philippines.
    • Projected 2017/18 world consumption is higher, primarily on increases in the EU and Indonesia, which more than offset reductions in Iran, India, and the United States.
    • The increase in global supplies still exceeds the additional consumption as 2017/18 global ending stocks are 2.3 million tons higher this month at 271.2 million, a new record.

    • Global sunflowerseed production is projected slightly higher.
    • Sunflower production is reduced for Argentina but increased for the European Union.

    • Global rapseed production is projected slightly higher.
    • Rapeseed exports are lowered for Senegal and the European Union.
    • Belarus rapseed production is increased.

    • Global soybean production is estimated 6.1-million-ton lower. Lower soybean production for Argentina, India, and Uruguay is partly offset by higher production for Brazil.
    • Soybean production for Brazil is forecast at a record 115.0 million tons, up 2.0 million on higher projected yields for Mato Grosso, Mato Grosso do Sul, and Parana due to beneficial rainfall during the growing season.
    • For Argentina, production is lowered 7.0 million tons to 40.0 million on reduced harvested area and yield, reflecting dry conditions during January through March.
    • Soybean exports are reduced 0.2 million tons as higher exports for Brazil, Russia, and Ukraine are offset by lower exports for Argentina and Uruguay.
    • Global soybean ending stocks are lowered 3.6 million tons to 90.8 million with reductions mainly for Argentina, Brazil, and the EU.

    • For 2017/18, Belarus barley production is estimated lower.

    March 2018

    • Brazil corn production is down based on expectations of a more modest increase in second-crop corn area.
    • For Argentina, continued heat and dryness during February and into early March reduces yield prospects for late-planted corn.
    • South Africa corn production is higher as timely rains during reproduction support an increased yield forecast. Partially offsetting is lower expected area.
    • Corn production is raised for India based on the latest information from the government.
    • EU corn production is higher based on recent data for France and Germany.
    • Corn ending stocks, outside U.S., for 2017/18 are higher from last month, mostly reflecting increases for Brazil, India, and the EU.
    • Corn imports are raised for China.
    • Major global trade changes for 2017/18 this month include higher projected corn exports for the United States more than offsetting a reduction for Argentina.

    • Global 2017/18 wheat supplies increased 0.5 million tons, primarily on a higher production forecast for Kazakhstan.
    • World exports are raised fractionally with Russia increased 1.5 million tons, partially offset by a 1.0-million-ton reduction for the EU.
    • Russia exports are projected at 37.5 million tons, up 35 percent from the previous year’s record and surpassing EU exports by 12.5 million.
    • Global imports are also raised, led by a 1.0-million-ton increase for Turkey, which is largely attributed to supplies from Russia.
    • Total world consumption is reduced, primarily on a 2.0-million-ton reduction for India on reports of weakening demand from rising domestic prices. Despite the reduction, total India consumption is still up marginally from the previous year’s record.
    • With global supplies rising and total demand falling, world ending stocks are raised 2.8 million tons to a record 268.9 million.
    • U.S. wheat exports for 2017/18 are reduced 0.68 tons to 25.17 million, while ending stocks are raised by the same amount. Exports are lowered on reduced price competitiveness in some international markets.

    • Sunflower seed production is projected higher for China and Kazakhstan and lower for Russia.

    • Global rapeseed production is projected at 73.9 million tons, up 0.9 million with larger crops for China and Australia partly offset with a smaller crop projected for India.

    • Argentina soybean production is forecast at 47.0 million tons, down 7.0 million from last month mainly due to lower projected yields resulting from dry conditions through much of the growing region in January and February.
    • Brazil soybean production is raised 1.0 million tons to 113.0 million, reflecting the most recent report from the Brazilian government.
    • Lower soybean exports forecast for Argentina, the United States, and Uruguay are only partly offset with a higher projection for Brazil.
    • Global soybean ending stocks are projected at 94.4 million tons, down 3.7 million from last month.
    • Reduced soybean stocks in Argentina and Brazil are only partly offset by an increase for the United States.

    • Barley imports are raised for China.
    • Barley imports are lowered for Saudi Arabia, based on tenders to date and expectations of robust demand from China.

    February 2018

    • Global corn production is lowered 2.8 million tons largely reflecting reductions for Argentina and Ukraine.
    • For Argentina, persistent heat and dryness during January and early February reduced yield prospects for early-planted corn in key central growing areas.
    • Production is lowered for Ukraine based on the latest official statistics. Small increases for Moldova, Mexico, Bangladesh, and Thailand are partly offsetting.
    • Major global trade changes for 2017/18 include higher projected corn exports for the
    • United States and Brazil, with reductions for Argentina and Ukraine.
    • Corn imports are raised for Turkey, the EU, and Brazil.
    • Global corn ending stocks, at 203.1 million tons, are down 3.5 million from last month.

    • Global 2017/18 wheat supplies are increased, primarily on higher production forecasts for Argentina and Ukraine.
    • Argentina’s wheat production increased by 500,000 tons to 18.0 million based on higher-than-expected yields from the later harvest stages.
    • Ukraine wheat production increased 481,000 tons to 27.0 million based on updated government data.
    • World 2017/18 trade is raised this month as higher exports from Russia, Argentina, and Canada more than offset reduced exports from the EU and the United States.
    • Projected imports are increased for Indonesia and several African countries while reduced for India, the EU, Iran, Brazil, and Mexico.
    • Indonesia’s imports are raised 1.0 million tons to 12.5 million on increases of use. Indonesia is now the leading global wheat importer, surpassing Egypt, the traditional leader.
    • Total world consumption is projected 3.1 million tons higher, primarily on greater usage from Indonesia and China.
    • Projected global ending stocks are 1.9 million tons lower this month at 266.1 million but remain significantly higher than a year ago.

    • Sunflowerseed production is reduced for South Africa.

    • Soybean production is reduced 1.7 million tons to 346.9 million.
    • Soybean production for Brazil is projected at 112.0 million tons, up 2.0 million, as favorable weather throughout the growing season has raised yield prospects.
    • Argentina production is reduced 2.0 million tons to 54.0 million on lower harvested area and reduced yields resulting from periods of unseasonable warmth and dryness.
    • Soybean production is also reduced for several other countries including Paraguay, Bolivia, India, Ukraine, and South Africa.
    • Global soybean stocks are projected lower with reduced soybean stocks for Argentina, Bolivia, Paraguay, and India more than offsetting an increase for the United States.
    • This month’s 2017/18 U.S. soybean outlook is for reduced exports and increased ending stocks.

    • Barley production is raised for Argentina.

    January 2018

    • Major global trade changes for 2017/18 include lower corn exports for Russia, partially offset by an increase for Thailand.
    • Corn ending stocks outside U.S. are higher than last month, mostly reflecting increases for Brazil and Pakistan.
    • Corn production outside U.S. is forecast lower with reductions for Russia, Vietnam and the Philippines more than offsetting an increase for Pakistan.
    • Vietnam corn production is reduced as the impact of heavy rain during the growing season in the northern production area was worse than previously expected.
    • Brazil’s 2016/17 corn exports are reduced.
    • Imports for 2017/18 are lowered for Iran but increased for Vietnam and the Philippines.
    • Global corn stocks, at 206.6 million, are up 2.5 million from last month.
    • This month’s 2017/18 U.S. corn outlook is for larger production, increased food, seed, and industrial use and greater stocks.

    • Global wheat supplies for 2017/18 are lowered 0.8 million tons on reduced beginning stocks, more than offsetting increased production.
    • World beginning stocks are lowered 2.6 million tons mostly on a large 2016/17 production cut for Australia.
    • World production for 2017/18 is raised 1.8 million tons led by a 2.0-million-ton increase for Russia and a 0.8-million-ton increased for Pakistan. Partially offsetting is a 0.9-million-ton reduction for the EU.
    • Global exports are lowered 1.3 million tons led by reductions for Australia and the EU that reflect decreased supplies and increase market competition.
    • Russian exports are raised 1.5 million tons to a record 35.0 million on increased supplies and competitive prices.
    • Global use for 2017/18 is lowered fractionally and ending stocks are lowered 0.4 million tons to 268.0 million, which remain record large.
    • Projected 2017/18 U.S. wheat ending stocks are raised 0.78 million tons on increased supplies and decreased use.

    • The sunflowerseed production was lowered for Argentina and EU.

    • This month's report includes higher rapeseed production for Ukraine.

    • Soybean production is raised 0.1 million tons to 348.6 million on gains for Brazil and the EU that are partly offset by lower production for Argentina and the United States.
    • The Brazil soybean crop is increased 2 million tons to 110 million reflecting higher yield estimates in recent government reports.
    • Soybean production for Argentina is reduced 1 million tons to 56 million on lower area planted to date, particularly in northern Argentina.
    • U.S. soybean production is estimated at 119.52 million tons, down 0.89 million on lower yields.
    • U.S. soybean exports are reduced 1.76 million tons to 58.78 million, reflecting increased competition with higher soybean production and export forecasts for Brazil.
    • U.S. ending stocks are projected at 12.79 million tons, up 0.68 million from the previous forecast.

    • Barley production is down as a reduction for Russia more than offsets an increase for Argentina.

    Decembrie 2017

    • Proviziile de grâu, globale pe sezonul 2017/2018 sunt estimate în creștere în principal din cauza prognozelor de producție crescută pentru Canada și Uniunea Europeană (estimate să acopere declinul de producție prognozat pentru Brazilia, Africa de Sud și Yemen).
    • Producția de grâu din UE este estimată în creștere cu 1 milion de tone (la un total de 152.5 milioane), în principal din cauza producțiilor mai mari așteptate în România, Polonia, Letonia și Bulgaria.
    • Comerțul mondial pe 2017/18 este în creștere, bazat pe exporturi mai mari din Canada, Rusia și Ucraina (care compensează exporturile reduse din SUA).
    • Prognoza pentru importuri este în creștere pentru Indonezia, China și Brazilia.
    • Consumul total la nivel global este proiectat în creștere cu 2.1 milioane tone, în principal bazat pe nevoi mai mari din Indonezia, Canada și UE.
    • Proiecția pentru stocurile finale la nivel global este cu 0.9 milioane de tone mai mare în această lună, ajungând la un total de 268.4 milioane tone, un nou record.

    November 2017

    • Corn exports are lowered for Ukraine but raised for the United States. Imports are raised for Mexico and Canada, but lowered for South Korea.
    • Corn production, outside U.S., is forecast lower mostly reflecting reductions for Ukraine, Russia, and Vietnam that are only partially offset by an increase for the European Union.
    • Corn ending stocks, outside U.S., are down from last month, mostly reflecting declines for China, Vietnam, Canada, and Ukraine that more than offset increases for the EU and Argentina.
    • Global corn stocks, at 203.9 million tons, are up 2.9 million from last month.
    • The projected corn yields for Russia and Ukraine are reduced based on reported harvest results to date.
    • U.S. corn outlook is for larger production, increased feed and residual use and exports, and greater ending stocks.

    • Global 2017/18 wheat supplies are down fractionally with decreased beginning stocks but increased production.
    • Global production is raised 0.8 million tons led by a 1.0-million-ton increase for Russia and a 0.5-million-ton increase for the EU on updated harvest results. Partly offsetting is a 0.5-million-ton decrease for Pakistan.
    • Exports are raised 0.6 million tons with the United States and Russia up 0.7 million, and 0.5 million, respectively. Australia exports are lowered 0.5 million.
    • Global use is raised fractionally this month.
    • With supplies decreasing and total use increasing, ending stocks are lowered 0.6 million tons but remain record large.

    • Sunflowerseed production is lower for Ukraine, Argentina, and South Africa.

    • Soybean production for Brazil is increased 1 million tons to 108 million on higher reported area for Parana and Rio Grande do Sul.
    • Major soybean trade changes for 2017/18 include higher exports for Brazil and Paraguay, with increased soybean imports for China.
    • Soybean ending stocks for 2017/18 are up from last month, mostly reflecting increases for China, Argentina, and Brazil.
    • US soybean production is forecast at 120,42 million tons, down 0.13 million due to a fractionally lower yield.

    • China’s barley imports are raised reflecting expectations of continued demand for imported feedstuffs.

    October 2017

    • Corn production is forecast higher, with the largest reductions for Russia, Ukraine, Ethiopia, and Tanzania more than offset by increases for a number of countries including Nigeria, Turkey, and Mozambique. The projected corn yields for Russia and Ukraine are reduced based on reported harvest results to date.
    • Corn exports are raised for Mexico and Argentina, with largely offsetting reductions for Russia and Ukraine.
    • Projected 2017/18 food, seed and industrial use for corn in China is raised based on recent trade data indicating a higher-than-expected level of corn product exports.
    • Corn ending stocks for 2017/18 are down from last month, mostly reflecting declines for China and Mexico that are only partially offset by increases for Argentina and Turkey
    • Global corn stocks, at 201.0 million, are down 1.5 million from last month.
    • This month’s 2017/18 U.S. corn outlook is for larger production, increased feed and residual use, and nearly unchanged ending stocks.
    • U.S. corn production is forecast at 362.712 billion tons, up 2.43 million from last month.
    • U.S. corn supplies are higher, as a larger crop more than offsets a reduction in beginning stocks based on the Grain Stocks report.

    • Global 2017/18 wheat supplies are increased, primarily on higher production forecasts for Russia, EU, and India more than offsetting a decline in Australia.
    • Based mainly on harvest results to date, Russia’s 2017/18 wheat production is increased 1.0 million tons to a new record of 82.0 million tons. This is well above last year’s previous record of 72.5 million tons.
    • EU wheat production is raised 2.2 million tons to 151.0 million, largely on higher production in France.
    • Australia’s wheat production is reduced 1.0 million tons to 21.5 million on persistent dry conditions in most of eastern Australia. This would be Australia’s lowest wheat output since the 2008/09 crop year.
    • 2017/18 trade is fractionally higher this month as reduced exports by Australia are offset by increased exports from Canada.
    • Projected imports are lowered for India and Turkey as increased 2017/18 production for both countries is expected to reduce import needs.
    • Total world consumption is projected higher, primarily on greater usage by India, EU, and Russia on their increased supplies.
    • Projected global ending stocks are nearly 5.0 million tons higher this month at 268.1 million, which is a new record.
    • Projected 2017/18 U.S. wheat supplies are decreased modestly this month as reduced beginning stocks are partially offset by slightly higher wheat production.

    • Sunflowerseed production is lower for Russia and Ukraine on lower yields.

    • Rapeseed production is lowered for Australia where yields are impacted by below-normal rainfall.

    • Global soybean production is projected down 0.6 million tons to 347.9 million on lower forecasts for Russia and Ukraine. Higher production for China and Mexico is partly offsetting.
    • U.S. soybean production for 2017/18 is forecast at 120.58 million tons, nearly unchanged from last month with higher harvested area offsetting lower yields.
    • With lower beginning stocks, U.S. soybean supplies for 2017/18 are projected down 1.19 million tons.
    • With use projections unchanged, U.S. ending stocks are projected at 11.7 million tons. If realized, ending stocks relative to use would be the highest since 2006/07.

    September - 2017

    • Global coarse grain production for 2017/18 is forecast up 2.4 million tons to 1,316.5 million.
    • The 2017/18 foreign coarse grain outlook is for greater production, slightly lower consumption, reduced trade, and larger stocks relative to last month.
    • Foreign corn production is forecast to decline relative to last month with reductions for Serbia, Ukraine, the EU, and Russia more than offsetting increases for Argentina and Mexico.
    • The projected corn yield for Ukraine is reduced based on heat and dryness during the month of August.
    • In Argentina, corn area is raised from last month and is now forecast to be record high.
    • Corn exports are lowered for Serbia and Russia, but increased for Ukraine.
    • Despite a smaller crop, Ukraine’s relatively large exportable supplies and logistical advantages are expected to fill demand for imported corn in the EU.
    • Brazil’s 2016/17 exports are raised for the local marketing year beginning March 2017.
    • This month’s 2017/18 U.S. corn outlook is for increased production, greater feed and residual use, higher ending stocks, and lower prices.
    • Global corn stocks, at 202.5 million tons, are up 1.6 million from last month.

    • Global wheat supplies for 2017/18 are lowered as a 1.7-million-ton production increase is offset by a 2.7-million-ton decrease in beginning stocks.
    • The primary production increase is for Russia, which is raised 3.5 million tons to a record 81.0 million tons; this change is based on excellent growing conditions and updated harvest results.
    • EU production is lowered 0.7 million tons and the Australia production for 2017/18 is lowered 1.0 million tons on dry conditions. In addition, historical production changes for Australia led to lower global ending stocks. The 2015/16
    • Australia production change is on updated Australia Bureau of Statistics data which lowered harvested area 1.5 million hectares. Australia’s 2016/17 harvested area is lowered 0.5 million hectares.
    • Global trade for 2017/18 is essentially unchanged. However, exports are increased 1.0 million tons for Russia on the larger crop, 0.5 million tons for Ukraine, and 0.3 million tons for Turkey. These are partially offset by a 1.0-million-ton reduction for EU exports and a 0.5-million-ton reduction for Australia.
    • Total global use is up 0.5 million tons.
    • With total supplies declining and use increasing, global ending stocks are lowered 1.6 million tons.
    • The U.S. 2017/18 wheat supply and demand estimates are unchanged from last month.
    • The season-average farm price is lowered $0.20 per bushel at the midpoint to a range of $4.30 to $4.90.

    • The 2017/18 foreign oilseed production is projected at 445.8 million tons, nearly unchanged from last month.
    • Foreign sunflowerseed production is slightly higher as larger projected crops for Argentina, Turkey, and the EU more than offset lower projections for Ukraine and Bolivia.

    • Canola production is reduced for Canada on lower reported area and cottonseed is raised for India based on the latest government planting data.
    • Reductions for soybeans and rapeseed are offset with gains for cottonseed and sunflowerseed.

    • Barley production is raised for Russia and Canada, but lowered for Argentina and the EU.

    August 2017

    • EU corn production is reduced.
    • Canada corn production is down on lower projected harvested area.
    • Corn production forecasts are raised for Russia based on higher corn area.
    • Ukraine corn production is unchanged as a reduction in projected yield is offset by increased area.
    • For 2016/17, corn production is increased for Brazil based on second crop corn harvest results to date.
    • Major global corn grain trade changes for 2017/18 include corn export reductions for the EU, Serbia, and Canada. More than offsetting are increases for Ukraine and Russia.
    • Brazil’s corn exports are raised for 2016/17.
    • Corn imports for 2017/18 are raised, mostly reflecting increases for the EU and Iran.
    • Corn ending stocks are raised from last month.
    • Corn production in U.S. is forecast at 0.36 billion tons, down 2.59 million from the July projection.

    • Global 2017/18 wheat supplies increased significantly, primarily on an 8.6-million-ton production increase in the Former Soviet Union (FSU).
    • Russian production is a record 77.5 million tons, surpassing last year’s record by 5.0 million.
    • Spring wheat conditions have remained very favorable for both Russia and Kazakhstan, resulting in higher production forecasts.
    • Canadian wheat production is reduced 1.9 million tons to 26.5 million on the increasing intensification of drought conditions in major production areas of the Prairie Provinces.
    • The increased FSU production more than offsets reduced production forecasts in Canada, EU, and U.S., raising 2017/18 global production by more than 5.0 million tons to 743.2 million.
    • Foreign 2017/18 trade is increased on higher exports for Russia, Ukraine, and Kazakhstan more than offsetting reductions in Canada and EU.
    • Projected imports are raised for several countries, led by Indonesia and Nigeria.
    • Total world consumption is projected higher, primarily on greater usage by Russia, Indonesia, and Nigeria.
    • Projected global ending stocks are 4.1 million tons higher this month at 264.7 million, which is a new record.
    • Projected 2017/18 U.S. wheat supplies are decreased this month on lower production, down 0.57 million tons to 47.32 millions.
    • Projected 2017/18 U.S. ending stocks are decreased 0.13 million tons to 25.39 million.

    • Sunflowerseed production for Russia is increased.

    • Rapeseed production is increased for the EU.

    • Global oilseed production for 2017/18 is projected at 576.7 million tons, up 2.8 million, mainly on a 2.3-million-ton increase for soybean production.
    • Soybean production is projected down for Canada, where hot and dry weather conditions in the Canadian Prairies lowered yield prospects for both crops, and excessive rainfall in eastern Canada led to a lower soybean harvested area estimate.
    • Global soybean exports for 2017/18 are up 1.5 million tons as higher U.S. exports are partly offset by lower Argentina shipments.
    • Beginning stocks for 2017/18 are raised based on lower crush and exports for Argentina for 2016/17. Coupled with higher production, 2017/18 soybean ending stocks are increased 4.3 million tons to 97.8 million.
    • Soybean production for U.S. is forecast at 119.22 million tons, up 3.29 million on higher yields
    • With higher production and lower beginning stocks, soybean supplies for 2017/18 are projected at 130 million tons, up 2 percent from last month.
    • U.S. soybean exports are raised 2.04 million tons to 60.55 million on increased supplies and lower prices.
    • U.S. soybean ending stocks are projected at 12.92 million tons, up 0.40 million from last month.

    • EU barley production is reduced.
    • Barley production forecasts are raised for Russia based on favorable growing conditions for barley.

    July 2017

    • EU corn production is down reflecting a lower projection for Spain, where heat and dryness during grain fill hurt yield prospects.
    • For 2016/17, Argentina corn production is raised based on the latest information indicating a higher-than-expected level of area.
    • Major global trade changes for 2017/18 include reduced corn exports for the EU and Tanzania.
    • Corn ending stocks are raised from last month, with the largest increases primarily for Vietnam, Mexico, and Argentina.
    • This month’s 2017/18 U.S. corn outlook is for larger supplies, greater feed and residual use, and higher ending stocks.
    • For USA, corn beginning stocks are raised 1.9 milion tons, reflecting lower feed and residual use in 2016/17.
    • Corn production for 2017/18 is projected 4.82 million tons higher based on increased planted and harvested areas from the June 30 Acreage report.
    • Projected feed and residual use for 2017/18 is raised 50 million bushels on a larger crop and lower expected prices.
    • With other use categories unchanged, corn ending stocks are raised 215 million bushels from last month.

    • Global 2017/18 wheat supplies are decreased fractionally on lower production forecasts for the U.S., Australia, China, and the EU, which are partially offset by higher production expected for Russia and Turkey.
    • Russia’s wheat production is increased by 3.0 million tons to 72.0 million as growing conditions to date are similar to last year when Russia achieved record yields.
    • Turkey’s wheat production is up 1.5 million tons to 19.5 million on favorable crop conditions.
    • European Union wheat production is down 0.8 million tons to 150.0 million on smaller expected crops in Spain and France.
    • Australia’s 2017/18 production is reduced 1.5 million tons to 23.5 million on dry conditions.
    • Projected 2017/18 U.S. wheat supplies are lowered this month on reduced U.S. wheat production more than offsetting higher beginning stocks and imports.
    • Forecast 2017/18 U.S. wheat production is lowered 64 million bushels to 1,760 million.
    • Projected 2017/18 ending stocks are raised 14 million bushels to 938 million this month, but are 21 percent lower than last year’s revised stocks.
    • For 2017/18 exports are increased for Russia and Turkey more than offsetting reductions for the EU, Paraguay, and Ukraine.
    • Imports are projected lower for several countries with Turkey showing the largest reduction on a significantly larger crop.
    • Total world consumption is projected higher, primarily on greater use by Russia on increased supplies.
    • Global ending stocks are projected lower at 260.6 million tons, down marginally from last month.

    • Ukraine sunflowerseed harvested area is raised in line with revisions for 2016/17, resulting in a higher production forecast.

    • Lower rapeseed production is forecast for Australia.

    • Soybean production is raised for China due to increased harvested area.
    • Global oilseed exports for 2017/18 are projected at 172.9 million tons, up 0.6 million mainly reflecting increased soybean exports for Brazil and Ukraine.
    • Soybean exports are raised for 2016/17 as higher exports for the United States and Paraguay are partly offset by lower exports for Brazil and Argentina.
    • Global soybean imports are forecast higher principally for China where imports are projected up 2 million tons to 91 million in 2016/17 and 1 million tons to 94 million in 2017/18.
    • USA Soybean production is projected at 115.23 million tons, up 0.13 million. Harvested area, estimated at 88.7 million acres in the June 30 Acreage report, is up from last month.
    • Despite slightly higher production, 2017/18 soybean supplies are reduced 0.95 million tons on lower beginning stocks.
    • Soybean ending stocks for 2016/17 are projected at 11.15 million tons, down 1.08 million from last month.

    • Major global trade changes for 2017/18 include lower barley exports for Argentina.
    • Barley production is lowered for Argentina, the EU, and Ukraine, but raised for Turkey and Russia.

    June 2017

    • EU corn production is down based on government data indicating lower-than-expected area in France and Germany.
    • Canada corn production is lowered on reductions to both area and yield, as wetter-than-normal conditions in Ontario and Quebec during May delayed plantings and are expected to reduce yield prospects.
    • Ukraine corn production is raised based on reported planting progress to date indicating a level of planted area above previous expectations.
    • For 2016/17, Brazil corn production is raised as above-normal rainfall in the Center-West during May boosts yield prospects.
    • South Africa corn production is higher reflecting the latest production estimate from the government.
    • Major global trade changes for 2017/18 include higher projected corn exports for Ukraine and Russia, with increased corn imports for the EU.
    • Corn ending stocks, outside U.S., are lowered from last month, with reductions for Canada, the EU and Russia more than offsetting increases for South Africa and Ukraine.
    • U.S. projected corn production for 2017/18 is unchanged at 357.251 million tons.
    • The season-average corn price received by producers in U.S. is unchanged from last month.

    • Global wheat supplies for 2017/18 are raised 2.8 million tons, primarily on higher forecast wheat production for Russia, which is up 2.0 million tons to 69.0 million.
    • Conditions continue to be favorable for winter wheat in most areas since the crop emerged from dormancy.
    • Turkey’s wheat production is also forecast higher, up 0.5 million tons to 18.0 million on improved crop conditions this spring.
    • India’s wheat production forecast is reduced 1.0 million tons to 96.0 million but is still record large and 9.0 million tons above 2016/17.
    • European Union wheat production is forecast modestly lower at 150.8 million tons on a smaller expected crop in Germany but still 4 percent above last year.
    • Exports outside US for 2017/18 are fractionally higher this month with increases in Argentina and Iran more than offsetting a reduction for the EU.
    • Imports are projected higher for Brazil, Chile, and South Africa but down for Iran.
    • Total world consumption is marginally lower, as a 1.0-million-ton reduction in India is only partially offset by increases in Russia, Brazil, and Chile.
    • Global ending stocks are projected at a record 261.2 million tons, up 2.9 million from last month.
    • Projected U.S. wheat supplies for 2017/18 are higher this month on increased beginning stocks, production, and imports.
    • Projected 2017/18 U.S. wheat production is slightly increased by 0.10 million tons to 49.64 million.
    • The net supply increase raises projected 2017/18 ending stocks by 0.29 million tons to 25.15 million.

    • Sunflowerseed production is raised for Ukraine on higher planted area based on reported planting progress to date.

    • EU rapeseed production is down mainly on lower projected yields in Germany where crops experienced dry and sub-freezing conditions through key flowering stages.

    • For 2016/17 soybean production is raised in Brazil and Argentina.
    • Global soybean production is raised 3.3 million tons to 351.3 million.
    • The Brazil soybean crop is projected up 2.4 million tons to 114.0 million reflecting increased yields in more recently harvested areas, particularly Rio Grande do Sul.
    • With higher global production in 2016/17, the beginning stocks for 2017/18 are raised 3.1 million tons to 93.2 million.
    • The larger beginning stocks combined with a 0.5-million-ton reduction to Argentina soybean exports in 2017/18 results in a 3.4-million-ton increase to 92.2 million to global soybean stocks at the end of the 2017/18 marketing year.
    • Price forecasts for U.S. for 2017/18 are unchanged this month.
    • U.S. soybean ending stocks for 2016/17 are projected at 12.24 million tons, up 0.4 million from last month.
    • U.S. ending stocks for 2017/18 are raised 0.4 million tons to 13.47 million.

    • Turkey’s barley production is raised as the impact of April dryness was not as severe as previously anticipated.

    May 2017

    • Corn production is forecast down from a year ago, with the largest declines in China and the United States. Partly offsetting are larger crops projected for the EU and Canada.
    • Global corn use is up 9 million tons (1 percent), while global corn imports are projected to increase 7 million tons.
    • Notable increases in corn imports include Vietnam, Egypt, the EU, Saudi Arabia, Mexico and Iran.
    • Global corn ending stocks are down from last year’s record high and if realized would be the lowest since 2013/14. The drop largely reflects forecast declines for China and the United States.
    • For China, total corn supply is down 14 million tons in 2017/18, based on projected declines in beginning stocks and production. On the demand side, feed and residual use is expected to increase based on continued relatively low internal market prices, efforts by the government to promote use of domestic supplies and reduced imports of corn substitutes.
    • The U.S. corn crop is projected at 358.14 million tons, down from last year’s record high with a lower forecast area and yield. The smaller corn crop is partly offset by the largest projected beginning stocks since 1988/89, leaving total corn supplies down from a year ago but still the second highest on record.
    • Total U.S. corn use in 2017/18 is forecast to decline 2 percent from a year ago as a slight increase in domestic use is more than offset by lower exports.
    • U.S. corn exports are down 8.89 million tons, as a 25.4 million tons increase in the combined corn exports of Brazil and Argentina during 2016/17 is expected to cut into the 2017/18 U.S. shipping season.
    • With total supply falling faster than use, 2017/18 U.S. ending stocks of corn are down 4.69 million tons.

    • Global wheat supplies are projected to decline as higher beginning stocks are more than offset by a production decline following last year’s record.
    • Total wheat production is projected at 737.8 million tons.
    • Global wheat consumption is projected down slightly from last year’s record.
    • Global imports are expected to be a record for the fifth consecutive year.
    • Global ending stocks are projected at a record 258.3 million tons, up 2.9 million from 2016/17.
    • The EU is expected to regain export market share following last year’s small crop and quality problems.
    • U.S. wheat supplies for 2017/18 are projected down 9 percent from 2016/17 on lower production, which is partially offset by higher beginning stocks.
    • In U.S. all wheat production for 2017/18 is projected at 49.53 million tons, down nearly 13.60 million tons from the prior year. The year-to-year decline is due to a sharp reduction in planted area and projected lower yields.
    • U.S. ending stocks are projected to decline 6.66 million tons to 24.87 million, the lowest in three years.
    • US Exports are projected at 27.21 million tons, down 0.95 million from the previous year’s revised level but above the five-year average.
    • US Total use for 2017/18 is projected down 2 percent on lower exports.

    • Rapeseed production is projected to increase 6 percent, with increases for Canada, the EU, Ukraine, and India.

    • Soybean production is projected down 3.4 million tons to 344.7 million mainly on declines from last year’s records for the United States, Brazil, and Paraguay. Conversely, soybean production is forecast up for Canada, China, Bolivia, and Ukraine.
    • China’s soybean meal equivalent consumption is expected to grow at 5 percent, similar to last year but below the prior 5-year average.
    • Soy oil production gains are expected for China.
    • Global soybean exports are projected at 149.6 million tons, up 5.0 million from 2016/17.
    • Imports are expected to grow for China, Egypt, Vietnam, and the EU.
    • Lower global production has led to a 1.3-million-ton decrease in soybean stocks, particularly in Brazil and Argentina where stocks are expected to decline by 2.6 million tons combined. Partially offsetting are higher stocks in the United States and Canada.
    • The 2017/18 outlook for U.S. soybeans is for higher supplies, crush, exports, and ending stocks.
    • The U.S. soybean crop is projected at 114.80 million tons, down 1.41 million from last year’s record crop.
    • With sharply higher beginning stocks, soybean supplies in U.S. are projected at 128.31 million tons, up 4 percent from 2016/17.
    • U.S. soybean exports are forecast at 58.51 million tons, up 2.72 million from the revised 2016/17 projection.
    • U.S. ending stocks for 2017/18 are projected at 13.06 million tons, up 1.22 million from the revised 2016/17 forecast.

    April 2017

    • Brazil corn production is raised primarily on larger projected second crop area. The latest government data indicate a higher-than-expected expansion of area in both the Center-West and North.
    • Argentina corn production is increased on the latest harvest results indicating better-than-expected yields.
    • Other major corn production changes include increases for Mexico, Indonesia, Pakistan and South Africa, with reductions for Paraguay, Ecuador and Russia.
    • The increased competition from countries like Argentina and Brasil is expected to impact the 2017/18 marketing year in the United States.
    • Corn imports are raised for Mexico, with mostly offsetting reductions for Indonesia, Venezuela, Philippines, and Colombia. Corn ending stocks, outside US, are raised from last month, with the biggest increases for Mexico, Brazil, Indonesia, and Argentina.
    • This month’s 2016/17 U.S. corn outlook is for unchanged ending stocks.
    • The season-average corn price received by producers, in US, is unchanged at the midpoint with the range narrowed to $3.25 to $3.55 per bushel.

    • Global wheat supplies are raised 1.7 million tons due to higher projected beginning stocks and a 0.3-million-ton increase in production. The change to beginning stocks stems from a 1.4-million-ton reduction in 2015/16 domestic consumption, primarily in the EU.
    • World exports are lowered 0.3 million tons led by 0.5-million-ton decreases each for Australia, Canada, Kazakhstan, and Russia. Partly offsetting are higher projected exports for the EU and Ukraine.
    • Total global consumption for 2016/17 is lowered 0.6 million tons to 740.8 million with a 1.0-million-ton decrease in the United States, more than offsetting a small net increase for foreign countries.
    • With supplies rising and use declining, global ending stocks are raised 2.3 million tons to 252.3 million.
    • U.S. wheat ending stocks for 2016/17 are raised 30 million bushels on lower feed and residual use.

    • The 2016/17 global oilseed supply and demand forecasts show higher production, exports, crush, and ending stocks compared to last month.
    • Global soybean stocks are projected at a record 87.4 million tons, 10.3 million above a year earlier. Soybean meal production is raised 0.3 million tons and soybean meal stocks are increased 0.9 million tons.
    • Higher soybean production has also led to a 0.4-million-ton increase in global forecasted crush and a 4.6-million-ton increase in soybean stocks.
    • Forecasted global soybean exports are increased 2.2 million tons to 143.3 million.
    • Soybean imports are raised for China and the EU.
    • U.S. soybean supply and use changes for 2016/17 include higher ending stocks. With exports and crush unchanged, soybean ending stocks are projected at 445 million bushels, up 10 million from last month.

    March 2017

    • This month’s 2016/17 U.S. corn outlook is for increased corn used to produce ethanol and reduced feed and residual use.
    • Ending stocks are unchanged from last month..
    • The projected range for the season-average corn price received by producers, in US, is unchanged at $3.20 to $3.60 per bushel.
    • Corn for food, seed, and industrial use (FSI) is raised 11 million bushels. Partially offsetting is a marginal reduction in non-ethanol FSI.
    • Brazil corn production is raised on increases to both projected area and yield. Reported first crop yields have been record high, while the rapid planting progress of second crop corn in the Center-West boosts expected area and yield prospects, allowing for greater crop development prior to the normal end of the rainy season.
    • Corn exports for Brazil, Argentina, and South Africa are projected higher.
    • Corn imports are raised for Iran.
    • India corn production is raised based on the latest government statistics.
    • Corn ending stocks, outside US, are raised from last month, mostly reflecting increases for Brazil, Argentina, Iran and South Africa.
    • Argentina corn production is increased based on higher-than-expected yield results for early-planted corn and indications of larger planted area.
    • South Africa corn production is higher as above normal rainfall and benign temperatures during grain fill support an increased yield forecast.

    • Global production increased 2.8 million tons to 751.1 million, mainly due to larger crops in Argentina and Australia more than offsetting a slight reduction in the European Union.
    • Australia’s wheat production is raised 2.0 million tons to a record-large 35.0 million.
    • Projected exports are increased for both Australia and Argentina on their larger supplies while Canada’s exports are reduced on a sluggish export pace.
    • Global imports are raised this month led by India, which was raised 1.8 million tons to 5.5 million. This would be the largest wheat import total for India since 2006/07; India stocks have successively declined since 2012/13.
    • Despite higher projected global use, driven by India, 2016/17 global ending stocks are increased by 1.3 million tons to 249.9 million.
    • U.S. wheat imports for 2016/17 are reduced this month by 10 million bushels to 115 million. Ending stocks are projected lower by the same amount to 1,129 million bushels. The season-average farm price is unchanged with the midpoint of the range at $3.85 per bushel.

    • U.S. soybean supply and use changes for 2016/17 include higher crush, lower exports, and increased ending stocks compared with last month’s report.
    • Soybean exports are reduced 25 million bushels to 2,025 million with increased production and exports for Brazil.
    • Soybean stocks are projected at 435 million bushels, up 15 million from last month. With increased crush, soybean oil production, exports, and ending stocks are forecast higher.

    February 2017

    • This month’s foreign coarse grain outlook is for increased production, consumption, and trade relative to last month.
    • Mexico corn production is projected to be record high, as government data indicates higher planted area and a lower level of abandonment following a favorable summer growing season.
    • Ukraine corn production is raised on a forecast record-high yield, based on the latest harvest results to date.
    • Major global trade changes for 2016/17 this month include higher projected corn exports for Ukraine and Canada.
    • Corn imports are raised for Iran and Vietnam.
    • Projected FSI use for China is increased as lower prices and government support are expected to boost domestic use and exports of corn-based industrial products.
    • Foreign corn ending stocks are lowered from last month, with reductions for China and the EU only partially offset by increases for Paraguay and Mexico.

    • Global wheat supplies are lowered 4.2 million tons primarily due to sharp reductions in the India and Kazakhstan crops.
    • Indian production is lowered 3.0 million tons to 87.0 million, which is well below the latest government of India estimate.
    • The Kazakhstan crop is reduced 1.5 million tons on updated government statistics.
    • Foreign exports are lowered 0.4 million tons with reductions for Kazakhstan and Russia more than offsetting increases for Argentina and Ukraine.
    • Total global use for 2016/17 is raised 0.5 million tons with higher feed and residual use partially offset by a decline in food use. Vietnam and China feed and residual use is raised 1.3 million tons and 1.0 million tons, respectively.
    • With global supplies falling and total use increasing, world ending stocks are lowered 4.7 million tons this month.

    • The 2016/17 global oilseeds supply and demand estimates include lower production and ending stocks compared to last month.
    • Oilseed production is projected down 0.6 million tons to 554.2 million, with lower soybean production only partly offset by higher sunflowerseed, rapeseed, and cottonseed.
    • Global soybean production is down 1.2 million tons to 336.6 million mainly on a 1.5-million-ton reduction for Argentina where heavy rain impacted the expected harvested area.
    • Partially offsetting is a 0.3-million-ton increase for Ukraine on higher yields.
    • Global oilseed trade is projected up 0.7 million tons to 161.0 million tons.
    • Increased exports of soybeans from Ukraine, rapeseed from Canada, and sunflowerseed from Argentina account for most of the change.
    • Global oilseed stocks are projected lower, mostly reflecting reduced soybean stocks for Argentina and reduced rapeseed stocks for Canada.

    January 2017

    • Serbia corn production is raised reflecting the latest information from the Foreign Agricultural Service office in Belgrade. Partly offsetting is lower corn production for Bolivia where the impact of a severe drought during the growing season was worse than previously expected.
    • This month’s 2016/17 U.S. corn outlook is for lower production, reduced feed and residual use, increased corn used to produce ethanol, and smaller stocks.
    • Corn production is estimated at 15.148 billion bushels, down 78 million from last month on lower harvested area and a reduction in yield to 174.6 bushels per acre.
    • Imports are raised based on the pace of corn imports through November.
    • With supply falling faster than use, corn ending stocks are lowered 48 million bushels from last month.
    • The projected range for the season-average corn price received by producers is raised 5 cents on both ends to $3.10 to $3.70 per bushel.

    • Global exports are raised 1.2 million tons led by increases for Argentina, Australia, and the EU. Partly offsetting is a reduction in Canadian exports reflecting the slow shipment pace so far this year.
    • Global use for 2016/17 is raised 0.1 million tons with increased food use. With total global supplies increasing faster than use, ending stocks are increased 1.2 million tons to a new record of 253.3 million.
    • U.S. 2016/17 all wheat ending stocks are raised this month and projected to reach the highest level since the late 1980’s.
    • Feed and residual use is lowered 35 million bushels reflecting disappearance for June-November as implied by the December 1 stocks estimated in the Grain Stocks report.
    • Total supplies for 2016/17 are lowered fractionally on lower beginning stocks while 2016 production is unchanged.
    • Projected ending stocks for 2016/17 are raised 43 million bushels.
    • The season-average farm price is raised $0.10 at the midpoint to $3.80 on higher-than-expected cash prices to date. However, this season-average price would still be the lowest since 2005.
    • Global wheat supplies for 2016/17 are raised 1.3 million tons on a production increase that is only partially offset by lower beginning stocks. The largest increases are for Argentina, Russia, and the EU.

    December 2016

    • No changes are made to this month’s 2016/17 U.S. corn supply and use projections. Forecast U.S. corn exports are unchanged this month, despite a sales and shipment pace that is well above a year ago.
    • The projected range for the season-average corn price received by producers is raised 5 cents on both ends to $3.05 to $3.65 per bushel, on continued higher-than-expected early-season prices.
    • China corn production is increased reflecting the latest information released by the National Bureau of Statistics.
    • Russia corn production is higher based on harvest results to date.
    • Canada corn production is raised based on the latest data from Statistics Canada.
    • Major global trade changes this month include larger projected corn exports for Brazil and Russia.
    • Notable increases in corn imports are forecast for Vietnam, Iran, Taiwan, Colombia, and Egypt. Partly offsetting are reductions in projected imports for Canada, the EU and Indonesia.
    • Foreign corn ending stocks for 2016/17 are raised 4.1 million tons this month, with the largest stock increases projected for China, Vietnam, Brazil, and Russia.

    • The U.S. 2016/17 all wheat supply and demand estimates are unchanged from November.
    • Global wheat production for 2016/17 is raised 6.5 million tons led by a 4.7-million-ton increase for Australia, a 0.9-million-ton increase for China, and 0.4-million-ton increases for both the EU and Brazil. Production increases for China, the EU, and Brazil are due to updated official data.
    • Global exports are increased 2.6 million tons.
    • Australia exports are raised 3.5 million tons reflecting the large crop.
    • Russia exports are lowered 1.0 million tons due to a slower-than-expected pace.
    • Total consumption is raised 3.3 million tons with higher food and feed and residual use.
    • With supplies growing faster than use, ending stocks are raised 2.9 million tons and remain record large.

    • Sunflowerseed production is raised 0.6 million tons to 44.3 million on increased production in Russia and South Africa.

    November 2016

    • This month’s 2016/17 U.S. corn outlook is for larger production, increased food, seed and industrial (FSI) use and slightly higher prices.
    • With supply rising faster than use, corn ending stocks are raised 83 million bushels.
    • Corn production is forecast at 15.226 billion bushels, up 168 million from last month.
    • The projected range for the season-average corn price received by producers is raised 5 cents on both ends to $3.00 to $3.60 per bushel, based on higher-than-expected observed early-season prices.
    • Foreign corn ending stocks for 2016/17 are lowered 0.7 million tons, with the largest stock declines projected for Vietnam and Indonesia, partly offset by increases expected for Ukraine and Russia.
    • Corn exports are projected higher for Ukraine and Russia. Notable month-to-month increases in corn imports are forecast for Iran and Saudi Arabia. Partly offsetting are reductions in imports for Indonesia and South Korea. Policy restrictions are expected to limit corn imports by Indonesia, while South Korea’s corn purchase pace has moderated.
    • Corn production is raised for Ukraine, based on near-record yields reported by the government through early November. Russia corn production is higher this month with a projected record yield, based on harvest results to date. Partly offsetting are corn production reductions for Vietnam and Bolivia.

    • Projected 2016/17 U.S. ending stocks are raised 5 million bushels to 1,143 million on a reduction in food use.
    • Global wheat supplies for 2016/17 are raised 1.7 million tons on a 0.3-million-ton production increase and higher beginning stocks. The largest beginning stocks change is for Ukraine on expectations of lower food use more than offsetting higher feeding.
    • Global 2016/17 exports are lowered 0.5 million tons primarily on reduced Canadian exports as unfavorable precipitation at harvest damaged crop quality.
    • Global use for 2016/17 is raised 0.8 million tons led by increases in feed use for Ukraine, Canada, and Russia but partially offset by reduced food use in Ukraine. As global supplies are rising faster than use, ending stocks are raised 0.9 million tons and remain record large.