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The Korean government is expected to continue drawing down rice stocks in MY 2017/18 to 1.3 million metric tons (MMT) from 1.7 MMT in the current marketing year....

The Korean government is expected to continue drawing down rice stocks in MY 2017/18 to 1.3 million metric tons (MMT) from 1.7 MMT in the current marketing year....

Beginning February 4, 2017, Korea’s Ministry of Food and Drug Safety began enforcing biotech labeling requirements that were finalized on February 3, 2016.

The government of Korea has approved the use of 470,000 MT (milled basis) of rice stocks for feed use in Calendar Year (CY) 2017, a quantity more than five times larger than in CY 2016.

Korean ending stocks of rice are revised upward to 1.7 MMT and 1.8 MMT in MY 2015/16 and 2016/17, respectively. Stocks continue to grow as a result of continued decline in per capita rice...

The United States exported 836 million gallons of non-beverage ethanol in 2015, nearly all of which was used for fuel.

Notable updates for MY 2016/17 include an increase in Korean wheat consumption to 4.9 Million Metric Tons (MMT), due to anticipated increases in consumption of competitively-priced feed grade wheat.

MY 2016/17 corn imports are forecast to decrease 200,000 MT to 9.8 MMT due to competitively-priced wheat replacing corn for feed use.

The Korean government announced that it will seek to mitigate overproduction of rice through measures including reduction of area for rice cultivation to 711,000 Ha by 2018, planting of other crops...

Post revises rice production upward, despite a decline in planted area, based on record average yields of 5.33 MT/ha, due to favorable weather in September.

This report is an update to the previous forecast. Notable changes for MY 2015/16 include an increase in Korean wheat production to 36,000 MT and increased wheat consumption to 3.85 million tons.

Wheat imports remain fairly steady at 3.9 and 4 million tons for MY 2014/15 and MY2015/16 respectively.