The October USDA Report regarding corn does not radically change the forecasts already disseminated. Slight adjustments to some national productions confirm the 2018 production topped 1 billion tons by 68 million. Neither does the balance of power change substantially, at least at the production level: the USA is confirmed as the world’s largest producer, albeit with a progressively eroded share of approximately 370 million tons, 35% in the world and despite the improvement, limited to +1%, compared to last year. Brazil stands out among the countries in improvement, returning to over 90 million tons, recovering 12 million tons and reaching 15% in the world. China remains at 225 million tons, for internal use and consumption. The top spot of the percentage improvement, however, goes to Serbia, which we know is not just a statistical curiosity: +75% thanks to the recovery of 3 million tons that bring its production back to 7 million. The EU lies at approximately 60 million tons and closes the list of the countries with declining production, following Russia (2 million, 17%) and Argentina, which returns to 32 million after reaching 42 last year (22%). We open a window on China out of curiosity and hunger for knowledge. With 225 million tons, its corn production reaches a new record, with a 4% improvement over last year and 3% over the five-year average. The expected yield per hectare is 6.1 tons, applied to an area of 36.5 million hectares, lower than the long-term trend value, pushed down by national policies aimed at reducing subsidies and other support programs.

“Il Giallone”