Experts, the USDA increased the forecast of world production and consumption of corn

In the January USDA report compared to the previous estimate, the forecast of world maize production increased by 2.2 million tonnes to 1110,84 million tons, and consumption by 6.18 million tonnes to 1133,41 million tons, resulting in ending stocks will be reduced by 2.75 million tons to million tons 297,81

Forecasts corn production increased to US 0.77 million tonnes, Russia by 0.5 million tons, EU - 0.44 million tonnes, while consumption estimates have been increased for US by 5.84 million tonnes and China - 1 million t

the Forecast of global trade in maize has increased by 1 million tons due to increased estimates of corn exports from Ukraine by 0.5 million tons to 30.5 million tonnes and the EU by 0.4 million tons to 2.4 million tons, whereas for the USA the forecast of exports was reduced by 1.9 million tonnes to million tonnes 45,09

Ending stocks of corn in the world will decrease, in particular in China by 2 million tons, the USA - 0.75 million tonnes, Brazil - 0.5 million tonnes.

Withbut experts USDA increase in accordance with the report on balances on September 1, the initial stocks of corn in the United States by 2.67 million tons, production - 0.77 million tonnes and consumption of 5.84 million tons by a decline in exports of 1.9 million tonnes will reduce ending stocks by 0.46 million tons to 48.7 million tonnes, which is pretty surprised analysts.

After the publication of the WASDE report, the Department reported that this spring will conduct a re-examination of crops of soybeans and corn, which in the US were not collected in 5 States (Michigan, Minnesota, North and South Dakota, Wisconsin), therefore, the January estimates of acreage for harvest, yield, production and stocks of corn in the United States are subject to change.

In the January report, the data for maize presented as the harvest, although part of it remains in the fields. Therefore, the final assessment of the corn crop 2019 will be known only in the spring.

After the publication of the report, corn futures in Chicago to compensate for the fall in the beginning of the week and rose to 152,5 $/t