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