The International Grain Council cut its forecast for the 2016/17 global corn production by 3 MMT to 1027 MMT as compared to last month projection as dry weather has affected crop prospects in the EU and China. However, Global corn production is higher than last year’ estimate by 57 MMT. Forecast for global corn ending stock was also cut by 2 MMT to 216 MMT.
Information source: www.skymetweather.com
