IGC increased its forecast for global corn production by 5 million tons
In a December report, the IGC estimate the world production of maize increased relative to previous forecast by 5 million tonnes to 1,039 billion T.
production Forecasts increased for U.S. 362,7 to 370,3 million tons, EU countries – from 59.2 to 59.3 million tons at the same time for Ukraine crop estimate was reduced by 1.5 million tons to 25.5 million tons.
the Forecast of ending stocks in the 2017/18 season increased up to a 205.5 million tonnes against 202,6 million tons in November, which will significantly lower the amount of 235.1 million tonnes the previous season. The estimate for ending stocks for the United States increased from 59.6 to 64.3 million tons, Argentina - from 10.6 to 11.6 million tonnes, South Africa with 2.7 to 3.1 million tonnes.
At the end of the season evaluation of world exports has increased compared with November by 0.2 million tons to 148.7 million tonnes, which is significantly higher than the figure recorded last year (138 million tons) and 2015/16 (136.3 million tonnes).
in Particular, the export forecast for the United States increased from 47 to 48 million tonnes, and Brazil, from 28 to 28.5 million tons.