GRAIN

摘要

South America's massive contribution to seaborne grain exports this year is underlined by the latest trade estimates from the US Department of Agriculture (USDA).After jumping 14.0 Mt to an annual record of 39.0 Mt in the year to 30 September, Brazilian corn exports are forecast by the USDA to remain at a similar rapid pace in the current 2019/20 (Oct-Sep) trade year and total 38.0 Mt. Positive export prospects are not limited to Brazil. With US corn export volumes thought to be more or less flat at 50.0 Mt in 2019/20 on last year's weather-affected total, the USDA anticipates Argentina will export 33.5 Mt, surpassing last year's record and comparing very favourably with the annual average of less than 23 Mt for the crop years from 2015-18.