To learn more about agribusiness in Ukraine, follow us on Facebook, on our channel in Telegram, and subscribe to our newsletter.
Traders anticipate dramatic decline in US corn stocks in November USDA report — Agritel
Traders are cautious ahead of tonight's USDA report, which is expected to show a sharp downward revision in US corn stocks as a result of a sharp upward revision expected for exports to China, the Agritel consultancy reports.
"The USDA is also expected to revise downwards its production estimate for Ukraine still posted at 36.5 mln t last month, while Agritel analysts put it at just 30.5 mln t," the report reads.
It is noted that wheat stocks in the 8 major exporting countries are also expected to fall, according to Agritel analysts.
Related: Wheat Exporters from Ukraine in 1H 2020
The USDA reports that 91% of corn is harvested, compared to an average of 80% to date.
As of November 5, agriproducers in Ukraine harvested 18.6 mln t of corn, 69% of the planned areas. The crop yields 4.91 t/ha on average.