The IGCIn May, experts significantly lowered their forecast for global corn production in 2022/23 - to 1,183 billion Tonnen up from 1,197 billion tonnes in the previous report and 1,213 billion tonnes in 2021/22 MG.
As stated, the forecast of the harvest is Grains Analysts for Argentina reduced – up to 60,6 (63,7; 57) million tons, EU – up to 70,7 (71; 70,3) million tons and the USA – up to 367,3 (376,6; 383,9) million tons.
The forecast for the worldwide export of Corn in the coming season, analysts have cut to 166,3 million tons, compared to 170,9 million tons in April and 174,2 million tons in 2021/22, due to further downward revisions for Ukraine to 10 (16, 6; 21 ) million tons. In return, analysts increased their forecast for exports Corn from the USA to 61 (60,1; 65,5) million tons.
Experts have raised the forecast for global grain stocks in the coming season to 269,1 (265,1; 285,2) million tons. In particular, analysts have this forecast for the USA to 34,1 (30,6; 35,3) million tons, Ukraine to 9,2 (4,8; 9,4) million tons and Argentina to 2,5 (1,8; 4,1) million tons elevated.