USDA raises forecast for world corn crop in 2016/17 MG
the forecast for June USDA analysts 0.7 million ton increased relative to the may report's estimate of global corn production in the 2016/17 season MY. The harvest will exceed the level of 2015/16 966,37 million tons and will reach 1.01 billion ton.
the Adjustments have not touched the main producers of maize. Future crop for Mexico increased from 23.5 million tons to 24.2 million tons, although it will still be less than last year's 25 million.
the Forecast of world maize exports reduced from 133.78 million ton in the previous forecast to 132,25 million tons, although last season he was 134,59 million. Mainly due to the decrease of exports to Brazil from 25 million tons to 23 million tons. For comparison, last season, the country exported 34.5 million tone of maize. For USA export expectations increased from 49 to 49.5 million tons against 46 million tons of season 2015/16.
the Forecast for world corn stocks reduced to 205,12 million tons, 1.92 million tons less than expected a month ago and 1.33 million tons less than the previous season. For United States stocks reduced from 54.68 to 51 million tons against 43,37 last season, for the EU countries – from 5.95 to 5.25 million 6.28 million against the tone of the 2015/16 season, for Iran, from 5.3 to 5.1 million 5.66 million against the tone of the 2015/16 season. Brazil's ending stocks are increased from 5.54 to 6.54 million tons, against 5.94 million ton the previous season.