USDA increased the forecast of world corn production to 2017/18 MG
USDA increased the estimate of world production of coarse grain in the 2017/18 season by 1.4 million tonnes to 1323,9 million tons Forecast world corn production increased to 1044,75 million tons.
Assessment of corn production is increased for China, Laos, Guatemala and the EU, however, reduced to Russia.
the Forecast of corn exports for Russia are also reduced, whereas for EU countries increased.
the Forecast for world corn stocks increased to 204.1 million, mainly due to growth of stocks in China, Brazil and the EU, while Egypt and Mexico, they will be reduced.
After the publication of the report of the March futures on corn in Chicago fell to 137,2 $/t
In Ukraine corn prices after a slight increase at the beginning of the month stabilized at around 150 $/t or 4750-4800 UAH/t for December deliveries at the port. Traders buy corn only on those elevators where they can ship it by rail. In the Western regions, the purchase price is reduced because of the need to store the corn for 2-3 months until shipping.