The Forecast of World Corn Production in 2017/18 MY is Increased by 5 Million Tons

The forecast of world corn production in 2017/18 MY is increased by 5.04 million tons and reached 1,037 billion tons (1,031 billion tons according to the June forecast).

This information was reported by the US Department of Agriculture (USDA).

At the same time, compared with 2016/17 MY, corn production will decrease by 31.89 million tons (1,068 billion tons in 2016/17 MY).

It is noted that the world corn export is estimated at 152.46 million tons, which is by 0.45 million tons less than the June forecast and 7.26 million tons less compared with 2016/17 MY.

Let us remind that in Ukraine corn yield is estimated at 26 million tons. In case this yield is reached, export might constitute 19.5 million tons.