World corn harvest will be a record.
In new forecast-balance report USDA increased the forecast of world maize crop to a new record high at 1.0284 billion tons (17.7 million tons the previous assessment). Thus, the corn crop in the new season will be 68.7 million tons higher harvest this season – 959.7 million tons.
Forecast gross yield was increased for Argentina, India, but all the more essential for the United States, where the expected record harvest of corn (15.59 million tons to 384.92 million tons).
Evaluation of world exports of corn was increased to 137.3 million tons (3.9 million tons of the previous forecast), mainly due to the US (3.2 million tonns to 55.25 million tons) and Argentina (1 million tons to 24 million tons).
Weather finite world stocks of corn was increased to 220.8 million tons (12.42 million tons of the previous forecast), mainly due to increased estimates for the United States to 61.2 million tons (8.35 million tons in July, forecast, +17 87 million tonnes for 2015/16 estimates). End of the world reserves are at 11.46 million tonnes above the 2015/16 season.
