Coarse Grains. World Markets and Trade. Dec 2014 – USDA Dec. 11, 2014
World corn production remains a record and is up with higher production in China and the EU more than offsetting lower crop prospects in Argentina. World trade is down slightly on lower Argentine exports and reduced Chinese imports. The U.S. season-average farm price is unchanged this month.
Following the release of the November WASDE report, U.S. corn quotes have declined further to become more competitive with other origins. Despite a late harvest and logistical delays, U.S. quotes continue to be pressured by large supplies, a strong U.S. dollar, and continued competition. U.S. quotes are $9/ton below South American and about even with Black Sea. Black Sea quotes are up slightly as political uncertainty and foreign exchange concerns limit farmer selling.
TRADE CHANGES IN 2014/15