USDA report Nov. 16-high US corn harvest estimate moderate price reactions The monthly estimate report has led to once again to the world grain harvest of the US Department of agriculture (USDA) to a higher result. T 2,0644 billion is expected for the current year 2016/17. In 4 years in a row the world crops now about 2 billion tons arethe development of consumption came in recent years slowly behind. 2013/14 the consumption amounted to 1.93 billion t. 2016/17 is expected with 2,051 billion t . The different development of production and consumption has led to a significant stand structure . Closing stock in the years 1913-14 is calculated on 405 m t. About 500 million tonnes is expected for the current year 2016/17. At first glance, the global supply situation has improved considerably. Clings to you but the international trade not available Chinese closing inventories amounting to approximately 43% from, reserves between 277 to 284 million tonnes remain, which can be mobilised in case of need. The USDA estimates largely unchanged the global wheat market in the latest edition to the previous month. A slightly elevated at the supply side opening stock level of 241 million tonnes and a crop of 744 million tonnes. Consumption is considered slightly higher on 736,5 million tonnes, because it is assumed that a higher proportion of wheat in the feed sector will end up in quality and price. The closing stock price can be calculated t 249 million or 33.8% of the consumption. The global corn harvest is estimated by the USDA at approximately 5 million tons higher at 1,030 million tonnes compared to the previous month. The main reason is the surprisingly higher U.S. crop to 4 million tonnes to 387, as well as higher results in Russia and the Ukraine. , However, fall States harvest in some Southeast Asian back. The global corn consumption increases to 1,022 million tonnes, so that is expected at the end of the financial year increased stocks of end of 218 million tonnes. Of 104 million tons in China store. The Chinese efforts to dismantle its stocks of endangered by the mercy, have led now only to a standstill the so far growing volumes. The release of the USDA report mixes in terms of the Exchange reactions partly with the surprising U.S. election results. The futures prices on the Chicago Stock Exchange have eased, but on a more manageable scale. The wheat prices move still always just over the Magic $4 / bu brand equivalent of €135 / t, and the maize prices hold just the $3.5 / bu line or €125 / t.
