US – corn sowings to drop as soyabean acreage increases

The USDA is forecasting corn (maize) sowings on US tillage farms to drop by 4m acres this year. After planting 94m acres in 2016, US farmers are expected to sow 90m acres in corn this spring. Corn is losing out to soya bean, with plantings of the crop set to increase by 2m acres to just under 86m acres in total.

UK – sugar deficit revised downward

The International Sugar Organisation has revised downwards its estimate for the sugar production deficit in 2017 to 5.9m tonnes. Sugar prices are expected to rise this year as a result of significant shortfalls in sugar production in some key regions, such as the UK.

China – pork exports continue to grow

Chinese pork imports increased to 1.6m tonnes for 2016, according to the Agriculture and Horticulture Development Board (AHDB). About two thirds of these imports were sourced from the EU-28, which is one of the primary reasons why pork prices have rebounded in the last six months.

Canada- forecast for wheat sowings downgraded

Canada’s agriculture ministry has cut its forecast for spring wheat sowings in the country by 3% to just under 23m acres. The forecast for rapeseed (canola) plantings in Canada are left unchanged at 21m acres, which will be 3% higher than last year.