China 22/23 corn yield could hit new record high: Casde

China’s Ministry of Agriculture and Rural Affairs (MARA) expects the country’s corn crop yield to reach a new high in 2022/23 marketing year which could stabilize corn production despite a smaller planting acreage.

Corn production in China in the next marketing year will remain flat or perhaps even rise slightly thanks to higher yield, MARA said in its latest China Agricultural Supply and Demand Estimates (Casde).

“The current meteorological conditions in most corn producing areas are generally better than the previous year, which is beneficial to the growth of spring corn crops at the jointing stage and summer corn crops during the sprouting phase,” said Casde on Tuesday.

The ministry pegged China’s 2022/23 corn yield at 6,410 kg/hectare, up nearly 2% year on year. Total production next year will likely reach 272-273 million tons.

On the demand side, corn consumption in animal feed is expected to remain “at a high level” this year as rising wheat prices in China have significantly limited the demand for corn substitution.

Industrial demand for corn will continue to grow next year, said Casde. Total corn demand for the sector in 2022/23 is estimated at 81 million tons, up roughly 1% on the year.