PRICES:

Since the beginning of August, prices for both corn and sorghum have dropped steadily by almost $20 to the current price of about $150 per ton. These falling prices can be attributed to improved crop prospects for U.S. corn.

TRADE CHANGES IN 2009/10

Selected Exporters

· U.S. corn is up sharply by 3.0 million tons to 56.0 million due to strong demand from Canada and diminished competition from Argentina.

· Argentine corn is reduced 1.0 million tons to 7.0 million based on area shifts to more profitable soybeans.

· EU corn exports are cut 500,000 tons to 1.5 million based on reduced exportable supplies out of the east.

· Serbian corn is up 300,000 tons to 1.5 million on a larger crop and continued duty-free access to the EU market.

· Argentine sorghum is raised 200,000 tons to 1.0 million on expanded demand from Colombia and other countries and tight U.S. supplies.

Selected Importers

· Canadian corn is boosted sharply by 1.1 million tons to 3.5 million based on a cut in production.

· Kenyan corn is raised 900,000 tons to 1.0 million, the second year in a row for disastrous production and large imports.

· Mexican sorghum is up 200,000 tons to 2.4 million due to reduced crop prospects and increasing demand in the poultry sector.

TRADE CHANGES IN 2008/09

Selected Exporters

Large Late-Season Adjustments Reflect Reported Shipments:

· U.S. corn up 500,000 tons to 47.5 million

· Brazilian corn dropped 1.0 million tons to 7.5 million

· EU corn down 250,000 tons to 1.8 million

· Serbian corn raised 300,000 tons to 1.3 million

· EU barley cut 250,000 tons to 2.8 million

· Russian barley boosted 200,000 tons to 3.7 million

· Ukrainian barley up 200,000 tons to 6.0 million

Selected Importers

Large Late-Season Adjustments Reflect Reported Shipments:

· Kenyan corn raised 300,000 tons to a record 1.2 million

· Turkish corn more than doubled, up 250,000 tons to 450,000

* Chinese barley up 200,000 tons to 1.4 million