USDA revised upward corn production forecast for Ukraine
The United States Department of Agriculture (USDA) in December report increased its estimate of corn production in Ukraine by 1 mln t to 29.5 mln t (November report: 28.5 mln t) in the 2020/21(July-June) season.
Corn ending stocks estimate was revised downward from 1.16 mln t to 0.89 mln t.
Under the report data, the estimate for corn export from Ukraine in 2020/21 was improved by 1.5 mln t to 24 mln t vs. 22.5 mln t set in the November report.
Related: Thumbs up or Thumbs Down: Does the Booming Corn Export Endanger the Domestic Market?
Corn production in the key exporting countries is expected at:
- Argentina: 49 mln t, 1 mln t lower from the November estimate
- Brazil: 110 mln t
- Russia: 14 mln t
- South Africa: 16 mln t
China is forecast to import 16.5 mln t of corn (November report: 13 mln t).
USDA experts report that the global corn production is expected at 1,143.56 mln t, 1.07 mln t lower from the previous forecast of 1,144.63 mln t, and exports at 185.97 mln t, slightly higher on the previous forecast (184.97 mln t). Besides, the estimate of global corn ending stocks was cut by 2.47 mln t to 288.96 mln t (November report: 291.43 mln t).
Previously reported that as of December 7, agriproducers in Ukraine harvested 27.91 mln t of corn on 5.2 mln ha (96%) using the average yield of 5.33 t/ha.
