FAS USDA lowers the forecast for corn import from Mexico

FAS USDA raised the forecast for corn yield in Mexico in 2016-2017 and lowered the one for import.

Spring corn yield is above expectations. Production of autumn corn will also be above the previous forecasts.

Thus, the total corn crop will be 27.4 million tonnes (25.971 million tonnes in the previous season).

Domestic corn consumption will be 39.5 million tonnes (37.3) as a result of lower feed consumption.

The forecast for corn import is also lowered to 14.0 million tonnes (14,011).

In 2017 - 2018. corn crop in Mexico will be 25.0 million tonnes and import - 15.5 million tonnes.