玉米周报：弱势寻底关注2400支撑

1   -2- -3- -4- 18000 16000 14000 12000 10000 8000 6000 4000 2000 0 18.00% 15.65% 15.54% 14.46% 13.74% 14.53% 12.59%12.71% 8.64% 9.16% 7.89%7.39% 9.21% 8.33% 9.92% 1128989 821 1232 173117372293214022211919 123513771360 2122 16.00% 14.00% 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% Totalsupply Totaluse Endingstocks StocksToUse -5- -6- Corn-World （Apr） （Apr） （Mar） Year 2011/2012 2012/2013 2013/2014 2014/2015 2015/2016 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 2022/2023 2023/2024 2023/2024 AreaHarvested(1000HA) 175,838 183,702 188,043 188,822 188,282 196,837 193,128 192,482 193,623 198,344 206,153 200,448 202,915 202,868 Yield(MT/HA) 5.18 4.89 5.46 5.60 5.40 5.73 5.60 5.86 5.80 5.69 5.90 5.78 6.05 6.06 BeginningStocks(1000MT) 115,330 123,327 144,742 214,555 279,681 311,868 351,979 341,605 323,074 309,525 292,942 310,790 302,190 301,620 Production(1000MT) 910,497 898,822 1,027,325 1,058,217 1,015,916 1,128,230 1,081,608 1,128,032 1,122,022 1,128,770 1,216,133 1,157,737 1,227,860 1,230,241 MYImports(1000MT) 100,631 99,467 125,095 125,004 139,942 138,449 152,883 166,373 167,686 184,749 184,433 172,844 187,466 189,483 TotalSupply(1000MT) 1,126,458 1,121,616 1,297,162 1,397,776 1,435,539 1,578,547 1,586,470 1,636,010 1,612,782 1,623,044 1,693,508 1,641,371 1,717,516 1,721,344 FeedandResidual(1000MT) 525,731 528,588 576,843 592,162 614,170 659,193 673,133 703,950 713,990 725,599 743,284 729,574 758,954 761,616 FSIConsumption(1000MT) 360,452 352,913 374,306 383,215 388,954 405,494 422,256 426,406 416,873 421,775 433,047 429,376 439,696 437,836 TotalDom.Consumption(1000MT) 886,183 881,501 951,149 975,377 1,003,124 1,064,687 1,095,389 1,130,356 1,130,863 1,147,374 1,176,331 1,158,950 1,198,650 1,199,452 MYExports(1000MT) 116,948 95,373 131,458 142,718 120,695 161,881 149,476 182,580 172,394 182,728 206,387 180,231 200,586 202,266 EndingStocks(1000MT) 123,327 144,742 214,555 279,681 311,720 351,979 341,605 323,074 309,525 292,942 310,790 302,190 318,280 319,626 StocksToUse 12.3% 14.8% 19.8% 25.0% 27.7% 28.7% 27.4% 24.6% 23.8% 22.0% 22.5% 22.6% 22.7% 22.8% Year2010/112011/122012/132013/142014/152015/162016/172017/182018/192019/202020/212021/222022/232023/24 Planted 88.2 91.9 97.2 95.4 90.6 88 94 90.2 88.9 89.7 90.7 93.3 88.2 94.6 Harvested 81.4 84 87.4 87.5 83.1 80.8 86.7 82.7 81.3 81.3 82.3 85.3 78.7 86.5 Yield 152.8 147.2 123.4 158.1 171 168.4 174.6 176.6 176.4 167.5 171.4 176.7 173.4 177.3 Beginningstocks 1708 1128 989 821 1232 1731 1737 2293 2140 2221 1919 1235 1377 1360 Production 12447 12360 10780 13829 14216 13602 15148 14609 14340 13620 14111 15074 13651 15342 Imports 28 29 162 36 32 67 57 36 28 42 24 24 39 25 Totalsupply 14182 13516 11932 14686 15479 15401 16942 16939 16509 15883 16055 16333 15066 16727 FeedandResidual 4793 4545 4333 5036 5324 5120 5472 5304 5430 5899 5602 5721 5486 5700 Food,Seed&Industrial 6428 6439 6046 6501 6560 6646 6883 7056 6793 6286 6466 6764 6558 6805 Ethanol&by-products 5021 5011 4648 5134 5200 5224 5432 5605 5378 4857 5028 5326 5176 5400 Domestic,Total 11220 10985 10379 11537 11883 11766 12356 12360 12223 12185 12068 12484 12045 12505 Exports 1835 1543 731 1917 1864 1898 2293 2438 2065 1778 2753 2471 1661 2100 Totaluse 13055 12527 11111 13454 13748 13664 14649 14799 14288 13963 14821 14956 13706 14605 Endingstocks 1128 989 821 1232 1731 1737 2293 2140 2221 1919 1235 1377 1360 2122 StocksToUse 8.6% 7.9% 7.4% 9.2% 12.6% 12.7% 15.7% 14.5% 15.5% 13.7% 8.3% 9.21% 9.92% 14.5% -7- Corn-USA （Apr） （Apr） （Mar） Year 2011/2012 2012/2013 2013/2014 2014/2015 2015/2016 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 2022/2023 2023/2024 2023/2024 AreaHarvested(1000HA) 33,945 35,356 35,394 33,648 32,680 35,106 33,481 32,848 32,776 33,252 34,394 31,851 35,011 35,011 Yield(MT/HA) 9.22 7.73 9.93 10.73 10.57 10.96 11.08 11.08 10.52 10.76 11.09 10.89 11.13 11.13 BeginningStocks(1000MT) 28,644 25,122 20,859 31,292 43,974 44,123 58,253 54,367 56,823 50,913 31,358 34,975 34,551 34,551 Production(1000MT) 312,789 273,192 351,316 361,136 345,506 384,778 371,096 363,787 344,651 357,819 381,469 346,739 389,694 389,694 MYImports(1000MT) 746 4,063 909 804 1,716 1,450 915 710 1,064 616 615 983 635 635 TotalSupply(1000MT) 342,179 302,377 373,084 393,232 391,196 430,351 430,264 418,864 402,538 409,348 413,442 382,697 424,880 424,880 FeedandResidual(1000MT) 114,612 109,444 127,112 134,307 129,999 138,892 134,743 136,966 146,778 143,959 144,038 139,362 144,787 144,152 FSIConsumption(1000MT) 163,349 153,529 165,890 167,530 168,846 174,893 179,248 172,537 159,672 164,256 171,627 166,589 172,855 172,220 TotalDom.Consumption(1000MT) 277,961 262,973 293,002 301,837 298,845 313,785 313,991 309,503 306,450 308,215 315,665 305,951 317,642 316,372 MYExports(1000MT) 39,096 18,545 48,790 47,421 48,228 58,313 61,906 52,538 45,175 69,775 62,802 42,195 53,342 53,342 EndingStocks(1000MT) 25,122 20,859 31,292 43,974 44,123 58,253 54,367 56,823 50,913 31,358 34,975 34,551 53,89