World corn trade projected higher for 2013/14

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Global corn trade in 2013/14 (October-September) is projected to reach 102.4 million tons, up 0.6 million from the previous forecast and nearly as large as record corn trade in 2011/12.

India’s corn export prospects are boosted 0.5 million tons to 3.5 million as domestic demand is not expected to be as strong as previously forecast, leaving more for exports. Also, South Africa’s corn exports are projected 0.1 million tons higher to 1.9 million, as the pace is expected to match the previous year.

Indonesia’s imports are increased 0.3 million tons to 2.2 million based on strong consumption growth. Projected 2013/14 trade for the other coarse grains is unchanged this month.

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