The European Commission has raised its forecast for 2016-17 maize stocks slightly and trimmed projected barley stocks, according to a revised version of its monthly EU cereals supply-and-demand outlook released on Thursday. The updated figures posted on the Commission's website showed projected maize (corn) stocks of 10.16 million tonnes, compared with 9.95 tonnes million indicated in its initial version of the monthly report issued last week.
The adjustment was much smaller than a sweeping revision the Commission made last week to its maize stocks estimate, when it slashed expected stocks from 15.9 million after raising its estimate for maize use in ethanol fuel. Thursday's updated document showed changes to 2016-17 EU maize imports, which are now seen at 13.7 million tonnes compared with 14 million last week, as well as EU maize exports, now pegged at 2.2 million versus 2.7 million previously.
Published under arrangements with Reuters.
No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium.
Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence." >Copyright Reuters, 2017