The USDA FAS market report on world grains forecasts a decrease in global corn production due to reductions in the European Union, Russia, Serbia, Ukraine, and Moldova, which is not balanced by an increase in the United States. Global trade is also expected to decline due to lower exports from Ukraine, Serbia, Russia, South Africa, the European Union, and Paraguay, while global imports are forecast to decrease due to reduced forecasts for Iran, Vietnam, Chile, Egypt, and Nepal, despite a raise to India. The US season-average farm price is projected to be $4.20 per bushel, down by 10 cents.