World production of corn in MY 2017/18 to drop by 45 million tons

World production of corn in MY 2017/18 will amount to 1.034 billion tons, which is 45 million tons less than in MY 2016/17 (1.079 billion tons).

The International grains council (IGC) informs that world corn trade in MY 2017/18 will make up 149 million tons, which is 1 million tons more than the September forecast and by 11 million tons more than the volume of MY 2016/17.

The forecast for corn consumption in MY 2017/18 is increased by 9 million tons (up to 1.067 billion tons) as compared to September prognosis.

Reference: from the beginning of MY 2017/18, as of October 25, Ukraine exported 1.54 million tons of corn.