World corn production forecast in 2017/18 MY decreased by 3 million tons

World production of corn in 2017/18 MY will amount to 1.017 billion tons, which is 3 million tons less than the July forecast.

This is reported by the International Grains Council (IGC).

It is noted that the world production of corn in 2017/18 MY will decrease by 56 million tons compared to 2016/17 MY.

In this case, the world trade of maize in 2017/18 MY will amount to 146 million tons, which is 3 million tons more than the July forecast and 7 million tons less than in 2016/17 MY.

At the same time, the forecast for corn consumption in 2017/18 MY is increased by 1 million tons (up to 1.055 billion tons) as compared with the July forecast.

Let us remind that in January-July Ukraine exported 14.68 million tons of corn to the amount of $2.29 billion.