NEW DELHI (Commoditiescontrol) – The estimate of world corn production for 2017-18 has been raised by the U.S. department of Agriculture (USDA) in its latest monthly report published on Wednesday to 1036.9 million tonnes from 1031.86 million tonnes projected last month. As per the USDA’s latest report, with rise in production and beginning stocks, the total supplies and ending stocks will rise to 1063.6 million tonnes and 200.81 million tonnes respectively.
U.S. corn outlook is for larger supplies, greater feed and residual use, and higher ending stocks. Corn beginning stocks are raised 75 million bushels reflecting lower feed and residual use in 2016-17 based on indicated disappearance during the first three quarters of the marketing year in the June 30 Grain Stocks report.
Corn production for 2017-18 is projected 190 million bushels higher based on increased planted and harvested areas from the June 30 Acreage report. The national average corn yield is unchanged at 170.7 bushels per acre.
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World Corn Supply and Demand
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(Million Metric Tons)
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2017/18 Proj.
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Beginning
Stocks
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Production
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Imports
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Domestic
Feed
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Domestic
Total 2/
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Exports
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Ending
Stocks
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World 3/
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Jun
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224.59
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1031.86
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145.79
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650.36
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1062.12
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152.91
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194.33
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Jul
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227.51
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1036.9
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145.8
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652.15
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1063.6
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152.46
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200.81
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United States
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Jun
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58.3
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357.27
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1.27
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137.8
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315.61
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47.63
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53.6
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Jul
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60.2
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362.09
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1.27
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139.07
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316.88
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47.63
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59.06
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Total Foreign
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Jun
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166.29
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674.6
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144.52
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512.56
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746.51
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105.29
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140.73
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Jul
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167.31
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674.8
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144.53
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513.08
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746.72
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104.84
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141.75
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Major Exporters 4/
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Jun
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15.58
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147.5
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0.41
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65.3
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84.5
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64.2
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14.79
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Jul
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16.28
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147.5
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0.41
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65.8
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85
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64.2
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14.99
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Argentina
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Jun
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2.87
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40
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0.01
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7.5
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11.3
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28.5
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3.07
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Jul
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3.57
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40
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0.01
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8
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11.8
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28.5
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3.27
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Brazil
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Jun
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9.77
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95
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0.3
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52
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61.5
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34
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9.57
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Jul
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9.77
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95
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0.3
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52
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61.5
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34
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9.57
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South Africa
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Jun
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2.95
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12.5
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0.1
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5.8
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11.7
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1.7
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2.15
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Jul
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2.95
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12.5
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0.1
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5.8
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11.7
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1.7
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2.15
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Major Importers 5/
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Jun
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21.61
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122.77
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85.3
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152.7
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205.75
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3.93
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19.99
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Jul
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22.43
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122.97
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85.3
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153.4
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206.45
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3.73
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20.51
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Egypt
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Jun
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2.11
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6
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10
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13.4
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15.9
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0.01
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2.2
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Jul
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2.11
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6
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10
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13.4
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15.9
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0.01
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2.2
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European Union 6/
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Jun
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5.99
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62
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15
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56
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74.7
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2.5
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5.79
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Jul
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5.99
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61.6
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15
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56
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74.7
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2.3
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5.59
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Japan
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Jun
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1.24
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0
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15
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11.5
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15.1
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0
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1.15
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Jul
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1.24
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0
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15
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11.5
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15.1
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0
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1.15
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Mexico
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Jun
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6.41
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25
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15.5
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22.7
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40.7
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0.7
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5.51
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Jul
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6.76
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25
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15.5
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22.7
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40.7
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0.7
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5.86
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Southeast Asia 7/
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Jun
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3.22
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29.61
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15.1
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36.65
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44.45
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0.72
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2.76
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Jul
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3.69
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30.21
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15.1
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37.35
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45.15
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0.72
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3.13
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South Korea
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Jun
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1.91
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0.08
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10.2
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8
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10.3
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0
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1.89
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Jul
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1.91
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0.08
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10.2
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8
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10.3
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0
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1.89
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Selected Other
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Canada
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Jun
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2.42
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14.4
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0.8
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8.5
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14.1
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1.5
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2.02
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Jul
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2.42
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14.4
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0.8
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8.5
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14.1
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1.5
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2.02
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China
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Jun
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101.31
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215
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3
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166
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238
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0.02
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81.29
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Jul
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101.3
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215
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3
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166
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238
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0.02
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81.28
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FSU-12
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Jun
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2.61
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48.85
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0.36
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20.03
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22.81
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26.71
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2.3
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Jul
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2.45
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48.8
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0.37
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19.4
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22.18
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26.71
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2.73
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Ukraine
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Jun
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1.24
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28.5
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0.03
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6.9
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8.3
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20.5
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0.96
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Jul
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1.04
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28.5
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0.03
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6.5
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7.9
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20.5
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1.16
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