World corn production has increased in the current season to 1 040.2 million tons (+2.3 mln tons compared with the January forecast). The previous record was set in 2014 – 2015 – 1 015.6 mln tons. The estimate on the corn crop in Mexico has been increased by 1.5 mln tons to the record 26.0 mln tons. Crop in Ukraine has been increased by 1 mln tons to 28 mln tons.

World corn consumption has jumped over the 1-billion-ton barrier for the first time and will be 1 033.0 mln tons (+2.3). Corn consumption in China has grown by 4 mln tons due to the increased import of other fodder grains, relatively low corn prices as well as government efforts to increase domestic consumption. Corn consumption in the USA is up by 0.9 mln tons.

World corn ending stocks will be record high too – 217.6 mln tons (-3.4). Stocks in China have decreased by 4 mln tons, stocks in the USA were down by 0.9 mln tons, stocks in the EU were down by 0.3 mln tons while they were 0.4 mln tons up in Mexico.