Experts diminished corn production prospects in the United States

Due to prolonged excessive wet conditions resulting in major delays in crop plantings, this year’s corn production in the United States was pegged at 330 million tons, down 45 million tons from FAO’s first production forecast published in May and almost 10 per cent (36 million tons) short of last year’s level.

"FAO’s latest forecast for world cereal production in 2019 points to an increase of 1.2 per cent from 2018, to 2 685 million tons. However, the year-on-year expansion is now much less significant than earlier predicted, as global maize production is now seen to fall in 2019, largely because of sharp downward revisions since the previous report concerning maize production prospects in the United States," the report states.

The recent USDA crop progress report pointed to a sharply reduced planted area of only 58 per cent of planting intentions as of 26 May, well below the 5-year average level of 90 per cent and the slowest pace ever recorded.

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

Most of the expected rebound in global cereal production in 2019 is attributed to expected expansions in wheat and barley production, with year-on-year increases of 5.3 per cent and 5.8 per cent, respectively.

According to the Agrarian Ministry forecast, Ukraine is poised to harvest a second record corn crop in 2019/20 marketing year with expectations of 33,1 million tons already floated.