However, the main upward adjustment has been carried out for the United States – to 370,3 (362,7) million tons and the EU – to 59.3 (59,2) million tons. At the same time, experts have lowered the forecast of the gross grain harvest in Ukraine by 1.5 million tons to 25.5 million tons.

The forecast of world corn ending stocks in 2017/18 MG was upgraded to a 205.5 million tons, higher than the November estimates (202,6 million tons), but much lower than the level of the previous season (235.1 million tons). The revision rate upwards was due to the US to 64.3 (59,6) million tons, Argentina – to 11,6 (10,6) million tons and South Africa to 3.1 (and 2.7) million tons.

Assessment of the world grain export season has also been somewhat improved – to 148,7 million tons compared to November's estimates 148.5 million tonnes, which significantly exceeds the indicators as last year (138 million tons) and for 2015/16 (136,3 million tons). In particular, the export forecast was raised for the United States to 48 (47) million tons and Brazil – to 28.5 (28) million tons.

Photo: agronomam.com