Japan: Grain and Feed Update
As Japan’s Ministry of Finance announced import statistics ending June 2014 for wheat, Post has finalized the 2013/2014 marketing year (MY) import number in its PS&D. Japan’s feed production remains constant. Corn utilization in feed has continued to recover due to falling U. S. corn prices, resulting in the use of sorghum and wheat decreasing. Also, due in part to an increased supply of Canadian spring wheat, which is cheaper than its U.S. counterpart, wheat imports from the U. S. for MY2013/14 declined 14 percent. Japan’s rice crop this season is forecast to be one percent above average historical yield.
