USDA raised again its forecast for the global corn crop in 2017/18

16 Oct, 2017
USDA raised again its forecast for the global corn crop in 2017/18
In its October report, USDA raised again its forecast for the global corn crop in 2017/18 to 1.038 billion tonnes (1.032 billion tonnesin September and 1.075 billion tonnes in 2016 – 2017)

Corn crop in the US will be 362.7 million tonnes (360.3 and 384.7), in Canada 14.1 million tonnes (13.9 and 13.2), in Nigeria 10.5 million tonnes (6.9 and 10.75), in Mexico 26.2 million tonnes (26- 27.56), in Ukraine 27 million tonnes (27.5 and 28).

 

Global corn export will be 150.9 million tonnes, by 2 million tonnes less than in the September forecast, but 9.1 million tonnes more than in 2016-2017. The export estimate for Argentina is lowered to 27 million tonnes (28 and 23.5), for Russia 5.5 million tonnes (6 and 5.5), for Ukraine 21.5 million tonnes (22 and 21.5).

 

Global stocks of corn will be 200 million tonnes - a drop of 2 million tonnes to the lowest level in 2014-2015. Stocks in China will be 79.19 million tonnes (81.3 and 101.3), Argentina 6.07 million tonnes (4.57 and 5.56) and the United States 59.4 million tonnes (59.3 and 58.3).

 

In its October report, the USDA again raised its forecast for the crop of rough grains in 2017-218 by 2.8 million tonnes to 1,319.4 million tonnes, by  2.4 million tonnes more than in 2016-2017.

 

In its new report, the USDA raised the average corn yield in the US in the new season to a record level - 171.8 bushels / acre at 169.9 bushels / acre in the September report. The corn crop will be 362.7 million tonnes (360.2).