Global corn production forecast in 2017/18 decreased by 5.7 MT

The forecast for global corn production in 2017/18 is reduced by 5.67 million tons as compared with the March forecast. The projected volume is estimated at 1.036 billion tons.

The United States Department of Agriculture (USDA) reports that if compared with 2016/17 the volume of corn production in the current marketing year will 39.42 million tons lower.

The volume of global corn exports in 2017/18 is forecasted at 152.57 million tons, which is 3.36 million tons less than the forecast for March and 7.21 million tons lower than in 2016/17.

Earlier it was reported that during March a high volatility of prices was noted in the Ukrainian export market of fodder corn (on FOB basis), while their increase was quite stable.