Global corn production in MY 2017/18 should increase by 14 MT

Global production of corn in MY 2017/18 should amount to 1.05 billion tons, which is 14 million tons more compared to November forecast in 2017.

International grains council (IGC) informs that corn production in MY 2017/18 is 34 million tons less compared to MY 2016/17 (1.088 billion tons).

The global corn trade in MY 2017/18 should amount to 147 million tons, which is 9 million tons more than in MY 2016/17.

The forecast for corn consumption in MY 2017/18 is increased by 1 million tons (up to 1.068 billion tons) as compared to the prognosis in November, and exceeds MY 2016/17 by 21 million tons.

Earlier it was reported that Ukraine from the beginning of MY 2017/18 as of January 18, 2018 exported 22.39 million tons of grain, which is 2.59 million tons less than over the same period last year.