Corn Production Going Through Major Jump Worldwide

Some of the world’s largest corn producers have produced even more corn than they normally do and it’s bumped overall world production totals and global stocks.

USDA World Outlook Board Chair Seth Meyer said the increase is 4.5 million tons.

“Argentina, another million metric tons on yields that we’ve observed from harvest results there. Brazil, a little bit of area in yield change on first crop corn, area change on second crop corn.”

Our neighbors to the south also got some big numbers according to Meyer.

“Increased Mexican production, a million metric tons. That tends to be white corn so you have to keep that in consideration for how you think that might affect overall trades. South Africa also up 400,000 metric tons. A big increase in production for them year-over-year.”

In the U.S. corn for feed is down while ethanol use is on the rise.