The USDA increased its forecast of global corn crop
Experts from the USDA once again increased the forecast of world maize production in the 2016/17 season.
compared with the previous forecast gross yield of corn in the world will increase by 4.5 million tonnes to 1053,8 million tonnes, 8.2% higher than the results of the previous season.
Assessment of corn production is increased for Argentina by 1 million tons, Brazil-3 million tons of STEAM at 0.4 million tonnes, and slightly for Mexico, Indonesia, and Pakistan.
Harvest in Argentina have shown that maize yields exceeded the expected figure. Brazil planted corn for the second crop of a larger number of areas than was planned a month ago.
Evaluation of already harvested corn crop in Russia decreased to 15.3 million tons.
Forecast world exports of corn increased by 1.5 million tonnes to 154,4 million tonnes, including for Argentina by 0.5 million tonnes to 26 million tonnes, and Brazil by 1 million tonnes to 32 million tonnes, Increase export potential of South American corn will have a negative impact on grain exports from the United States.
Ending inventory of corn in the world in season 2016/17 will increase by 2.3 million tonnes to 223 million tonnes, which is 5.3% higher than the figure recorded last season.