World Grain - July 2011 - 33

FEATURE: COMBATING VOLATILITY

tion’s suggestion that trade could double by 2030. “We responded by having our market analyst review those ﬁgures to 2030,” he said. “There is a bit of a disconnect between where grain is grown and where population is growing. We are looking at about a 50 percent increase in total importation by 2030.” Demand for maize is being driven by the large increase in meat demand that’s coming from middle income households. “That increase is coming primarily from developing countries,” he said. “You look at that in total and it shows a more than 50 percent increase in global grain trade by 2030.” He predicted higher price volatility. “That, in turn, should put an emphasis on risk management,” he said. “We encourage buyers to form close relationships with their suppliers, not just by country but also by company.” Higher volumes will put an extra strain on the infrastructure, but he noted that U.S. exporters were getting ready for the increased demand. “We have a couple of new export elevators being built in the U.S. for the ﬁrst time in a very long time,” he said. “It will create pressure on facilities in exporting regions.” He suggested that usage this year might be higher than some people anticipate because of demand for maize, while production was set to come down. He also suspected that there might be less stock actually available than there appears. “A big slice of that stock is in China and India, and it’s not coming out,” he said. Maize production has suffered from less than ideal conditions. “We’ve had some very difﬁcult spring weather in the U.S.,” he said. “In the near term, we clearly need more acres and we’re going to need better weather.” He also reminded the audience of the potential for increased production. “On the bright side, keep in mind
www.World-Grain.com / World Grain / July 2011

that the U.S. corn crop has doubled since 1980 on only 10% more acres,” he said. “This is a demand-led price increase. I never underestimate the ability of farmers to respond to a price increase and produce their way out of prosperity.” He did not support Le Maire’s call for more action on volatility.

“The greatest risk to trade from governments is not that they will do too little but that they will do too much,” he said.
Chris Lyddon is World Grain’s European editor. He may be contacted at: chris.lyddon@ntlworld.com.
We want to hear from you — Send comments and inquiries to worldgrain@sosland.com. For reprints of WG articles, e-mail reprints@sosland.com.

For more information, see Page 90.

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World Grain - July 2011

Table of Contents for the Digital Edition of World Grain - July 2011

World Grain - July 2011
from the editor-in-chief - Industry must move to avoid public opprobrium
CALENDAR OF EVENTS
News review
GRAIN MARKET REVIEW - Oilseeds
COUNTRY FOCUS - Focus on Israel
Combating volatility
FEATURE - Keeping a close eye on corn
BIOFUELS QUARTERLY - Ready for an ENERGY REVOLUTION
BIOFUELS QUARTERLY - Biofuels News Review
GRAIN OPERATIONS - Aeration strategies
FEATURE - BUSY FALL FOR IAOM
FEATURE - North American supplier profiles
SUPPLIER NEWS
PRODUCT SHOWCASE
ADVERTISER INDEX
World Grain - July 2011 - World Grain - July 2011
World Grain - July 2011 - 2
World Grain - July 2011 - 3
World Grain - July 2011 - 4
World Grain - July 2011 - 5
World Grain - July 2011 - from the editor-in-chief - Industry must move to avoid public opprobrium
World Grain - July 2011 - 7
World Grain - July 2011 - CALENDAR OF EVENTS
World Grain - July 2011 - 9
World Grain - July 2011 - News review
World Grain - July 2011 - 11
World Grain - July 2011 - 12
World Grain - July 2011 - 13
World Grain - July 2011 - 14
World Grain - July 2011 - 15
World Grain - July 2011 - 16
World Grain - July 2011 - 17
World Grain - July 2011 - 18
World Grain - July 2011 - 19
World Grain - July 2011 - GRAIN MARKET REVIEW - Oilseeds
World Grain - July 2011 - 21
World Grain - July 2011 - COUNTRY FOCUS - Focus on Israel
World Grain - July 2011 - 23
World Grain - July 2011 - 24
World Grain - July 2011 - 25
World Grain - July 2011 - 26
World Grain - July 2011 - 27
World Grain - July 2011 - Combating volatility
World Grain - July 2011 - 29
World Grain - July 2011 - 30
World Grain - July 2011 - 31
World Grain - July 2011 - 32
World Grain - July 2011 - 33
World Grain - July 2011 - FEATURE - Keeping a close eye on corn
World Grain - July 2011 - 35
World Grain - July 2011 - 36
World Grain - July 2011 - 37
World Grain - July 2011 - 38
World Grain - July 2011 - 39
World Grain - July 2011 - BIOFUELS QUARTERLY - Ready for an ENERGY REVOLUTION
World Grain - July 2011 - 41
World Grain - July 2011 - 42
World Grain - July 2011 - 43
World Grain - July 2011 - 44
World Grain - July 2011 - 45
World Grain - July 2011 - 46
World Grain - July 2011 - 47
World Grain - July 2011 - BIOFUELS QUARTERLY - Biofuels News Review
World Grain - July 2011 - 49
World Grain - July 2011 - 50
World Grain - July 2011 - 51
World Grain - July 2011 - GRAIN OPERATIONS - Aeration strategies
World Grain - July 2011 - 53
World Grain - July 2011 - 54
World Grain - July 2011 - 55
World Grain - July 2011 - 56
World Grain - July 2011 - 57
World Grain - July 2011 - FEATURE - BUSY FALL FOR IAOM
World Grain - July 2011 - 59
World Grain - July 2011 - FEATURE - North American supplier profiles
World Grain - July 2011 - 61
World Grain - July 2011 - 62
World Grain - July 2011 - 63
World Grain - July 2011 - 64
World Grain - July 2011 - 65
World Grain - July 2011 - 66
World Grain - July 2011 - 67
World Grain - July 2011 - 68
World Grain - July 2011 - 69
World Grain - July 2011 - 70
World Grain - July 2011 - 71
World Grain - July 2011 - 72
World Grain - July 2011 - 73
World Grain - July 2011 - 74
World Grain - July 2011 - 75
World Grain - July 2011 - 76
World Grain - July 2011 - 77
World Grain - July 2011 - 78
World Grain - July 2011 - 79
World Grain - July 2011 - 80
World Grain - July 2011 - 81
World Grain - July 2011 - SUPPLIER NEWS
World Grain - July 2011 - 83
World Grain - July 2011 - 84
World Grain - July 2011 - 85
World Grain - July 2011 - 86
World Grain - July 2011 - 87
World Grain - July 2011 - PRODUCT SHOWCASE
World Grain - July 2011 - 89
World Grain - July 2011 - ADVERTISER INDEX
World Grain - July 2011 - 91
World Grain - July 2011 - 92
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