Global corn production in 2017/18 to decrease by 6 MT

The global production of corn in 2017/18 will make up 1.048 billion tons, which is 6 million tons less compared to the January forecast of 2018, informs International grains council (IGC).

It is also noted that corn production in 2017/18 is projected at 40 million tons less compared to 2016/17 (1.088 billion tons).

The global corn trade in 2017/18 should amount to 148 million tons, which is 10 million tons more than in 2016/17.

The forecast for corn utilization in 2017/18 is increased by 19 million tons (up to 1.068 billion tons) as compared with 2016/17.

Earlier it was reported that Ukraine in January 2018 exported 2.08 million tons of corn, which is 9.96% less than over the same period last year.