US Department of Agriculture has raised the forecast for maize harvest more than by 3 millions of tonnes
US Department of Agriculture confirmed its forecast for worldwide harvest of grain crops for the season of 2014-2015 and for maize as well. In particular, they increased the forecasts for production, consumption, trade and for declining stock of this grain crop.
The forecast for maize yield, issued by the officials of US Department of Agriculture was increased by 3, 214 millions of tonnes and constitutes 991, 291 millions of tonnes. This index surpassed the record harvest of the season 2013-2014, which was at a level of 989, 038 millions of tonnes. The forecasts for consumption and for declining stocks were increased by 4, 295 millions of tonnes and 189, 64 millions of tonnes respectively. Trade balance at the worldwide markets increased from 111, 79 tonnes to 116, 89 tonnes, which is lower by 9, 8 millions of tonnes than the last year’s level.
In its turn, the International Grain Council predicts the following indices for the season 2014-2015.
Maize production- 992 millions of tonnes ( correction constituted 10 millions of tonnes)
Trade volume- 114 millions of tonnes (increase constituted one million of tonnes)
Maize consumption- 973 millions of tonnes (forecast increased by 10 millions of tonnes)
Declining stock- 194 millions of tonnes (forecast decreased by one million of tonnes)
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