AgResource Analysis of May USDA Reports
New crop global corn data also leans bearish longer term, even when excluding the US balance sheet. Non-US exporter harvested area in 2020/21 is projected to rise 755,000 Hectares (1.9 Mil Acres). With normal weather, non-US exporter corn production in 2020 will reach 224 MMTs vs. 217 MMTs in 2019. China is expected to be…