January 11, 2019 / 6:06 AM / 10 days ago

China raises 2018/19 corn output estimate to 257.3 mln T

BEIJING, Jan 11 (Reuters) - China will produce 257.33 million tonnes of corn in the 2018/19 crop year, the agriculture ministry said on Friday, up from last month’s forecast of 215.04 million tonnes.

The higher outlook was based on China’s most recent agriculture census, the ministry said in its monthly China Agricultural Supply and Demand Estimates report.

China also raised its forecast on corn consumption in the year that began in October to 285.28 million tonnes, up by 34.48 million tonnes from its previous estimate.

Corn imports for the year were seen at 1.5 million tonnes, down from the previous forecast of 2.5 million tonnes, the ministry said in the report.

China’s 2018/19 corn ending stocks deficit was seen at 26.5 million tonnes against the previous forecast of 33.31 million tonnes. (Reporting by Hallie Gu and Tom Daly; Editing by Joseph Radford)

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