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USDA: Surprises and increases corn production estimate

Porto Alegre - RS - Brasil 20230912

Corn supply and demand report published by USDA in September 2023.
USDA: Corn Supply and Demand Report

Fonte: USDA

Modelo: atribuído ao site Noticias Agrícolas


The USDA surprised and increased North American production of the cereal to 384.42 million tons. Productivity fell from 183.16 to 181.80 bags per hectare, corresponding to 0.74% below that reported in August.


Planted and harvested area:


Planted area: increased to 38.41 million hectares in September against 38.08 million hectares in August.

Harvested area: increased to 35.25 million hectares in September against 34.93 million hectares in August.


Ending Stocks:


On the other hand, ending stocks rose to 56.42 million tons, compared to the 55.93 million tons reported in August.


Exports:


The USDA also predicted the maintenance of corn exports at 52.07 million tons and the use of grain for ethanol production at 134.63 million tons.


Other countries:


In Brazil, the USDA predicted an increase in final stocks by 19.49%, from 6.67 million tons to 7.97 million tons and maintained production estimates at 129 million tons, as well as exports at 55 million tons, setting a new export record for Brazilian cereal.


In Argentina, estimates remained practically unchanged, except for a reduction in ending stocks of 500 thousand tons, remaining estimated at 1.01 million tons.


In Ukraine, the USDA increased the production estimate by another 500 thousand tons, reaching 28 million tons and an increase in ending stocks to 4.43 million tons, around 13.88% higher and, finally, the maintenance of 19.50 million tons in exports.


For China, the estimated production did not change, remaining at 277 million tons, even with news that the climate did not contribute and the country suffered from adverse weather conditions. Final stocks fell to 201.80 million tons, around 1.71% below the August estimate. Finally, the maintenance of the import need of 23 million tons.

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