World corn production in 2017/18 MY will decrease by 38 million tons

World production of corn in 2017/18 MY will make 1.03 billion tons, which is by 38.6 million tons less compared to 2016/17 MY (1.07 billion tons).

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

The world export of corn will amount to 150.58 million tons, which is 1.45 million tons less than in August (152.03 million tons) and 14.68 million tons less then in 2016/17 MY (162.41 million tons).

According to the USDA analysts, the volume of corn imports in 2017/18 MY will make up 147.31 million tons, which is 9.75 million tons more than the level of 2016/17 MY (137.49 million tons).

Earlier it was reported that the forecast for corn production in Ukraine in 2017/18 MY was reduced to 27.5 million tons (-1 million tons) compared to the August forecast (28.5 million tons).