U.S. influence in global corn market likely to wane, as country's percentage of global trade to decline to less than 47% from 55% currently, USDA says
February 14, 2012
– As part of its 10-year baseline forecast released on Feb. 13, the United States Department of Agriculture predicted that the U.S. influence in the world's corn market will likely wane while Brazil, Ukraine and the European Union will all wield increased levels of influence, Bloomberg reported Feb. 14.
By 2021, the U.S. percentage of global corn trade will most likely decline from its current level of roughly 55% to less than 47%, the USDA added.
In the report, the USDA predicted that exports from former Soviet Union nations will increase 60%, partly from an increased use of hybrid seeds and more extensive investments in agriculture.
The USDA forecast that Chinese corn imports would quadruple due to an increased need for livestock feed.
The primary source of this article is Bloomberg, New York, New York, on Feb. 14, 2012.