Ottawa, Canada
June 22, 2009
Source:
Agriculture & Agri-Food Canada
Market outlook report
For 2008-2009 to-date, US and
Canadian corn prices remain strong as lower production and
strong demand for ethanol offset a sharp rise in carry-in stocks
and reduced livestock feeding. World carry-out stocks are
expected to rise while holding steady in the United States (US).
World trade in corn is expected to decline sharply led by lower
US exports and weaker EU import demand.
For 2009-2010, the price outlook for corn is optimistic as US
production holds steady on higher yields and usage rises on the
continued expansion of the ethanol sector. Canadian corn
production is forecast to decrease marginally as a slight rise
in planted area is more than offset by lower yields. Imports of
corn are anticipated to rise slightly to service the growing
ethanol sector in Eastern Canada. US corn prices are forecast to
increase marginally with Canadian prices pressured by the rally
in the Canadian dollar. Over the medium term, North American
corn production is projected to grow slowly on stable planted
area and higher yields. This issue of the Market Outlook Report
examines the situation and outlook for corn.
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