BEIJING, – China’s agriculture ministry lowered its forecasts for corn production for the 2024/25 crop year in its December outlook released on Tuesday. It estimated corn output at 293.84 million metric tons, down from 297.01 million tons in a previous forecast. “There was more rain during the new corn harvest period in some parts of Northeast China, and the temperature was high in early November, which made corn storage more difficult and farmers’ willingness to sell grain higher than in the same period of previous years,” the ministry said. Soybean and edible oil production forecasts for the 2024/25 crop year were raised. Key numbers from the Chinese Agricultural Supply and Demand Estimates report are below. 2022/23 2023/24 Dec 2024/25 Nov 2024/25 Dec Percentage Estimate Forecast Forecast change Corn – crop year Oct-Sept Planted 43.07 44.219 44.886 44.886 0.00% acreage Output Imports Consumption 290.51 295 299.64 299.64 0.00% Exports Balance Soybean – crop year Oct-Sept Planted 10.243 10.47 10.163 10.36 1.94% acreage Output Imports Consumption 114.15 116.94 114.56 114.56 0.00% Exports Balance Cotton – crop year Sept-Aug Beginning 7.13 7.12 8.28 8.28 0.00% stocks Planted 3 2.788 2.747 2.747 0.00% acreage Output Imports Consumption 7.4 7.69 7.8 7.8 0.00% Exports Ending 7.12 8.28 8.17 8.05 -1.47% Stocks Sugar – crop year Oct-Sept Planted 1.284 1.262 1.396 1.396 0.00% acreage Cane 1.102 1.095 1.18 1.18 0.00% Beet 0.182 0.167 0.216 0.216 0.00% Output Cane sugar 7.89 8.82 9.5 9.5 0.00% Beet sugar 1.08 1.14 1.5 1.5 0.00% Imports Consumption 15.35 15.5 15.8 15.8 0.00% Exports Balance Edible oils – crop year Oct-Sept Output Soybean oil 17.49 17.76 17.3 17.3 0.00% Rapeseed oil 7.54 7.84 7.29 7.29 0.00% Peanut oil 3.41 3.6 3.83 3.83 0.00% Imports Palm oil 4.71 3.3 4.5 3.8 -15.56% Rapeseed oil 1.98 2.04 1.5 1.5 0.00% Soybean oil 0.4 0.38 0.5 0.5 0.00% Consumption 369.22 37.35 36.65 36.65 0.00% Exports Balance
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