USDA: World corn end stocks about 500 million tonnes of = ten times of a German harvesting In the Aug. 16 report to the development of supply on the World cereals market 2016/17 estimates the U.S. Department of agriculture (USDA) a global grain harvest of 2,066 million tonnes to about 88 million tons or 4.2% higher compared to the previous year. The increase is surprising assessment to the previous month with + 25 million t, caused largely by favorable harvests in the United States and countries of the Black Sea. Contrasting developments a Reduced EU crop of 12 million tonnes, but higher results from the Black Sea region with 13 million tonnes, as well as United States with 19 million tonnes have contributed to year increase. The remaining difference is distributed in Australia and Canada. Higher consumption figures were compared with the higher harvest result 2,044 million tons with an annual increase of 87 million tonnes, which is housed rd. to the half in the feed sector. Significant increases in consumption are also in the industrial sector with a focus on the use of corn to find bioethanol. The USDA estimates the global end stocks to 508 million tons with an increase to the previous year by about 22 million tonnes. The supply number of stock to use ratio is unchanged with 24.85% last year. It is measured by the moving multi-year average of 21.6% to start with an exceptionally good global supply situation. The global wheat harvest estimates the USDA to 743,4 million tons to 9 million tons higher than in the previous year. Weaker results from - 13 million tonnes of in the EU will be more than offset by higher harvests in the United States (+ 7 million tonnes) and the Black Sea region with 13 million t. Of wheat consumption was estimated higher to 21 million tonnes to 732.5 million tonnes, rd. to the half of them in the feed area. Sloping wheat qualities in several major growing regions and low wheat prices provide the reasons for the higher feed usage. Increasing closing stock of 11 million tonnes, or a supply number of 34.5% compared to the long-term average of 28% indicate an above-average supply situation in the wheat sector. In the maize sector the global harvest was estimated at 7.2% higher at 1,028 million tonnes. By the overall increase of 68 million tonnes, approximately 40 million tonnes accounts for solely on the United States. The consumption increase in corn by about 6% but remains somewhat. At the end of the marketing year, 11 million tonnes calculate higher overlay stocks of 221 million tonnes. Also in this case the supply figures with 21.7% significantly above the multi-annual average of 18.6%. On the stock market , the surprisingly high estimation results have first a decline raised , but again smooth made with the Wochenendgeschäft. Also currently high US export figures have resulted in a contribution to the calm of course. There will be a further workup of the USDA numbers on the exchanges expected to next week.
