Global corn production forecast in 2017/18 reduced by 3 MT

The global corn production forecast in 2017/18 is reduced by 3 mln. tons to 1.045 bln. tons, International Grains Council (IGC) informs.

Corn production in 2017/18 is expected by 43 mln. tons less as compared to 2016/17 (1.088 bln. tons).

The global corn trade in 2017/18 should amount to 149 mln. tons, which is 11 mln. tons more than in 2016/17.

The projection of corn consumption in 2017/18 is increased by 28 mln. tons (up to 1.074 bln. tons) as compared to 2016/17.

Reference: in July-February of 2017/18, Ukraine exported more than 1.8 mln. tons of basic grain crops, peas and mill offals to Turkey, which exceeds the indicator of the same period of the previous season (455,500 tons) by 4.1 times.