World corn harvest will decrease by 31 million tons in 2017/18 MY according to Soufflet

In 2017/2018 MY the world corn harvest will make up 1.034 billion tons compared to 1.065 billion tons of corn gathered in the last year.

The experts from Soufflet presented this information for Latifundist.com.

It is noted that the consumption of corn will grow by 8 million tons — from 1,054 million to 1,062 million tons.

The analysts from the French company indicate that the volume of the world's reserves of corn is higher compared with the previous year.

"In this season, the largest decline in reserves is observed in China and the US — 14 and 13.3 million tons, respectively, so more than 27 million tons in total. At the same time, the American reserves amount to an impressive volume of 58 million tons. The huge increase in reserves up to 25 million tons compared with the same period last year was recorded in May in Brazil, 8.2 million tons — in Argentina, 1.4 million — in the EU and 0.1 million tons in Ukraine," was reported in the materials.

Let us remind that the production of grain crops and legumes in 2017 will decrease by 10.7% to 59.04 million tons compared to the previous year.