The US Department of Agriculture (USDA) has released the April World Agricultural Supply and Demand Estimates (WASDE) report, which provides updated forecasts for wheat and maize production, consumption, trade and stocks for the 2024/25 marketing year.
Maize: world market-production: forecast increased by 0.9 million tonnes to 1,215.1 million tonnes. Increased production in the EU (+1.3 million tonnes to 59.3 million tonnes) due to higher harvests in Poland, Croatia, France and Germany, partially offset by declines in Romania and Bulgaria. Trade: export forecast is increased by 2.3 million tonnes to 188.7 million tonnes, mainly due to higher exports from the US (+2.5 million tonnes to 64.8 million tonnes).- Stocks: world ending stocks are reduced by 1.3 million tonnes to 287.7 million tonnes, reflecting lower stocks in the US and higher stocks in South Korea and Pakistan.