The forecast of world corn production in 2017/18 MY reduced by 12 million tons

World production of corn in 2017/18 MY will amount to 1.029 billion tons, which is 12 million tons less than the August 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 50 million tons compared to 2016/17 MY.

World corn trade in 2017/18 MY will make up 148 million tons, which is 2 million tons more than the August forecast and 10 million tons more than 2016/17 MY.

At the same time, the forecast for corn consumption in 2017/18 MY is increased by 3 million tons (up to 1.058 billion tons) as compared to the August prognosis.

Earlier it was reported that Ukraine from the beginning of 2017/18 MY as of September 27, 2017 exported 9.69 million tons of grain, which is 202 thousand tons less than the same period last year.