USDA increased its estimate of global corn production at 9 million tons
In the December balance USDA 9.2 MMT to 1,039 billion tonnes increased the forecast of world production of corn in season 2016/17 MG. It is 8.2% or 78,65 million tons exceeded the 2015/16, when it was collected 959,9 million tonnes.
the Basic countries-exporters of maize will be harvested 136 million tons of grain, 3 million tons exceeds the previous estimate of November's balance and 32.1 million tons exceeded the season 2015/16. Corn production in Argentina will grow by 25.9% to 36.5 million tons in Brazil and 29.1% to 86.5 million tonnes in South Africa – by 65.6% to 13 million tonnes.
Recall that according to the forecast of FAO, the global production of maize has been raised by 2.9 million tons to 1.03 billion tons, which is 2.1% or 21.4 million tons exceeds the performance of 2015.
the increasing supply of corn in the second half of MG from the countries of South America will put pressure on the price of corn.
Corn on the Chicago stock exchange trading at $141,33 .
The price of Ukrainian corn remains at $149-151 delivery to the port.