US corn surplus heading toward emergingfeed markets- biofuel demand levels off

摘要

The United States Grains Council is continually analysing market opportunities on domestic and export markets. Its latest analysis of the USDA Planting and Stocks Reports suggests biofuel is no longer the driver for increased sales, demand for stock feed in emerging markets is. On March 30, 2012, the United States Department of Agriculture (USDA) published two important reports: Prospective Plantings and Grain Stocks. The implications of these two reports are: Lower ending stocks for corn in the current (2011-12) marketing year. Larger supplies of corn in 2012-13; Lower supplies of soybeans in 2012-13. The 2012 Prospective Plantings report projects that US producers will plant 38.81 million hectares of corn in 2012 - the highest corn planted area since 1937, up 1.6m ha from 2011 and slightly above the area planted in 2007 (up 0.95m ha), figure 1. This report surprised many market participants who had projected a lower number. Corn planting intentions increased 4% from a year ago and 9% from 2010. In addition, sorghum planting intentions increased 9% to 5.950 million acres and barley planting intentions increased 30% to 3.333 million acres.