CHICAGO (B)--The U.S. Department of Agriculture's agricultural attache in Beijing has cut the Chinese 2000-01 (October-September) corn crop to 122 million tonnes, down three million from an earlier forecast and from the current official USDA estimate.
Corn exports for 2000-01 were pegged at 3 million tonnes, down from 6 million earlier, while exports for 1999-2000 were raised to 10 million from 9 million.
In the June monthly supply-demand report, USDA assumed new-crop Chinese corn exports at 6 million tonnes, and old-crop exports at 9 million.
Compared with a previous forecast, the attache lowered China's harvested corn area for 2000-01 to 24.0 million hectares from 25.0 million, and also revised 1999-2000 harvested corn area to 25.0 million from 25.8 million.
As a result of the smaller crop, China's 2000-01 corn ending stocks were forecast to fall to 25.798 million tonnes from 36.166 million estimated previously and currently shown in official USDA forecasts.
Stocks for 1999-2000 were adjusted to 33.498 million tonnes from 37.916 million. USDA's current estimate is 37.92 million tonnes.
The attache's report was dated June 8 and released Tuesday. The report made no comment on the reduction to corn production and changes to export forecasts.