Corn production to rise to 30m tonnes – Argentina

Informa Economics has forecast that Argentinian corn production will increase 4m tonnes to 30m tonnes for its 2016/2017 crop, due to an increase in the area planted. The 2015/2016 outlook is also forecast to be higher by 0.4m tonnes.

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Beef imports from Australia surge – China

Chinese beef imports surged by almost 60% in 2015. Australia remains the largest exporter of beef to China, with a market share of one third. Australian beef exports to China grew by 15% last year to a record AUS$917m (€580m), with volumes shipped rising sharply. Prices achieved by Australian beef exporters have increased 37%.

Five percent drop in beef imports – Japan

Japanese imports of fresh and frozen beef declined by 5% in 2015 to just under 495,000t. Australia and the US remain the major exporters of beef into Japan, with a combined market share of over 90%. The high price of beef in both Australia and the US weighed on demand from Japan and resulted in lower consumption last year.

World wheat stocks at record level – USA

In its latest WASDE report, the US Department of Agriculture (USDA) has raised by almost 7m tonnes its forecast for global wheat stocks to 238.9m tonnes. This latest upgrade increases the USDA’s wheat stocks estimate nearly 20m tonnes above the record global wheat harvest recorded during the 2014 season.