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Ministry of Agriculture and Rural Affairs: This month’s forecast of China’s corn supply and demand situation for the 2026/27 crop year remains basically unchanged from last month

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According to the Ministry of Agriculture and Rural Affairs, this month’s forecast for China’s maize supply and demand for the 2026/27 marketing year remains basically unchanged from last month. In recent weeks, most of Northeast China has had relatively sufficient light and heat, soil moisture conditions have improved effectively, which is conducive to crop growth. In the domestic market, policy grain continues to be released; new-season wheat is being brought to market gradually; and feed substitutes are increasing. Imports of substitute products such as sorghum and barley have grown significantly, and maize feed consumption demand is weaker than in the earlier period. Overall, the market’s supply-and-demand relationship remains fairly loose. In the international market, global maize production for the 2025/26 marketing year is expected to reach a record high. South American maize has had a bumper crop and continues to be shipped to market, so supply is adequate. For the 2026/27 marketing year, due to higher international energy and fertilizer prices, the maize planted area is expected to decline. However, with currently favorable weather in North American producing regions, maize output may be higher than previously expected.
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