Corn exports from Ukraine forecast at 29 mln t

In the March forecast for global production, demand, consumption and export of crops in 2018/19, USDA experts improved the forecast for corn exports from Ukraine by 0.5 million tons to 29 million tons, UkrAgroConsult reports.

By the report, estimates for the production of basic grains in the Black Sea region in 2018/19 decreased by 0.5% to 186.5 million tons, whereas exports increased by 0.3% to 104.3 million tons.

The production forecast for main grains in the Black Sea region was corrected due to lower estimates of wheat and barley production in Kazakhstan — by 1.1 million tons and 0.2 million tons, respectively. At the same time, the forecast of wheat exports from Kazakhstan remained unchanged, while estimates of barley exports were also reduced by 0.2 million tons.

USDA experts project an increase in Russian grain production. The forecast for wheat harvest increased by 0.1 million tons, corn — by 0.2 million tons and barley — by 0.1 million tons.

Reference: Ukrainian corn prices shed USD 13.75/mt month on month, sinking to 11-week low at USD 170/mt Wednesday, as assessed by S&P Global Platts.

The infographic guide Agribusiness of Ukraine 2017/18 is available by the link.