MY 2014/15 wheat consumption is forecast at 4.45 million tons, an increase of nearly 150,000 tons from the current marketing year. MY 2013/14 corn consumption is expected to rise to 9.6 million MT, up approximately 1.1 million MT from the previous year mainly due to greater demand in feed corn. Corn imports for MY 2013/14 are expected to increase to 9.5 million MT, up 1.3 million tons from the previous year due to increased feed corn imports. In MY 2013/14, U.S. corn exports to Korea are expected to rebound to 3 million tons, or more than 30 percent of total Korean corn imports. MY 2014/15 rice production is forecast to remain around 4.15 million tons (MMT) – down 2 percent from 4.23 MMT in 2013/14 – based on five year average yield.
