WASDE: Corn feed, residual disappearance lowered
South Africa production is lowered 0.5 million tons as more heat and dryness in March further trim yield prospects in the western and west central parts of the growing belt. Global coarse grain trade for 2012/13 is raised slightly as a small reduction in world corn exports are more than offset by increases for EU-27 barley and India sorghum.
Corn exports are lowered 0.6 million tons for the United States and 0.5 milli on tons for South Africa, but exports are raised 0.5 million tons each for Brazil and Ukraine. Global corn feed and residual use is down 5.3 million tons with much of the decline reflecting the reduction in the United States.
Feed and residual use is also lowered for China, Egypt, Mexico, and Serbia. A 1.5- million-ton increase in EU-27 corn feed and residual use is partly offsetting. Global corn stocks are raised 7.8 million tons with 3.2-million-ton increases for both the United States and China, and a 0.9-million-ton increase for Brazil.
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