USDA estimates world grain harvest again higher – supply situation remains same high The U.S. Department of agriculture (USDA) has World grain harvest 2016/17 in its Recent December issue again later on 2.059 Mio.t appreciated. Compared to the previous month, which was wheat harvest to approximately 7 million tonnes and the corn harvest to 9 million raised t. Wheat harvests are composed of a Weak EU crop of 144 million tonnes, a slightly increased Chinese crop of 129 million tonnes and a bumper crop in the three regions of Black Sea Russia with 72 million tonnes of Ukraine with 27 million tons and Kazakhstan with 16.5 million t. together rd. t 115 million. Russia is 30 million tonnes for the first time the world's largest wheat exporter before the United States and the EU with 26 million tons each. The larger wheat harvests compared to last month are to the vast Part attributed to recent results in Australia, to approximately 5 million tonnes higher fallen on a bumper crop of 33 million tonnes. Thus the global wheat harvest rises to a record of 751 million tonnes. Summing up the opening balance and the current crop is 2016/17 a wheat range of 990 million tonnes available. Is an consumption in of nearly 740 million tonnes against made of approximately 150 million tonnes in the feeding trough to hiking. The vast remainder is used directly in the human food chain. The closing stock rise in the wheat to 252 million or 34% of the consumption. The overlapping holdings exceed the long-term rd. 28.6%. The global wheat supply can be judged well on first glance as above average. It is however the China alone 111 million tonnes of wheat, or about 44% of world resources has in stock. Chinese quantities are available in case of need for the rest of the world not be available because China makes no significant wheat exports. Excluding China for calculating supply, security of supply by around 1% relative point compared to the previous year. By multiple institutions is already for the upcoming wheat harvest in 2017 the large acreage and the good seed stands pointed out. Especially in Russia is expected due to the favourable initial conditions again an above-average crop. For the EU, it is assumed that at unchanged high acreage the Flächenerträge not so disastrous will be like 2016. Given the large exposures of the overlay is assumed already an high range and corresponding price pressures for 2017 . But that teaches experience, that the crucial periods of the yield formation yet to come. It is to note that the land factor toward the income factor has less weight. Forecasts of this kind are to interpret with caution for now. Is the higher estimated a corn harvest of 1,040 million tonnes more than a third of the record U.S. crop with 387 million tonnes. Second, China is with slight increase 220 million tonnes. In Brazil, you expect a far above-average score of 86 million tonnes from first and second harvest. In Argentina it is estimated the corn harvest around 25% higher than in the previous year to around 36.5 million tonnes. For the EU, it remains at repeatedly weak corn harvest by 60 million tons. The additional amounts of maize compared to the previous month's estimate came to 3 million tonnes from Brazil, another 3 million tonnes in China, and 1 next million metric tons from Canada and Southeast Asia. The global corn consumption is estimated at slightly elevated 1,026 million. Of which approximately two-thirds in the feeding trough hiking. A significant portion of 15-20% is used for the bioethanol. A small part is used in immediate human consumption. The closing stock at the corn are estimated at 222 million t higher as still being in the previous month, the supply code closing stock is calculated at 21.7% consumption. To an above-average supply location is documented when measured by the long-term average of 18.6%. However the note on China's maize stocks of 106 million tonnes or about 48% of world reserves may be missing, which are available in case of need not for export to other countries. Unlike as in the wheat an improved world supply to last year, albeit at a lower level calculated yet. 14.5% closing stock consumption. Summary should be pointed out, that the supply situation is better than average in the year 2016/17. The high wheat harvests and the upcoming still have lately corn harvests in the southern hemisphere contributed.
