November USDA: World corn production forecast improved, Ukraine's remained flat mth/mth

The USDA(The United States Department of Agriculture) projects the world corn production in the 2021/22 season 6.4 mln t higher at 1,204.62 mln t (October Proj.: 1,198.22 mln t). The global corn exports are projected at 203.47 mln t, 1.56 mln t above the October report. Corn ending stocks should reach 304.42 mln t, 2.68 mln t higher mth/mth (October report: 301.74 mln t).

In the November report, the USDA analysts left unchanged the forecast for corn production in Ukraine at 38 mln t, flat mth/mth. Corn export from Ukraine in 2021/22 is forecast at 31.5 mln t, unchanged from the previous report. The ending stocks are also unaltered at 0.91 mln t.

This month’s 2021/22 world corn outlook is for higher production in the key countries, 242.5 mln t in the November report vs. 241 mln t in October.

The projection for the major corn exporters in 2021/22 (November vs. October report indicators, mln t):

 Country Production Exports Ending stocks
 Brazil 118 43 8.93 (+0.5)
 Argentina 54.5 (+1.5) 39 (+1) 2.63
 Ukraine 38 31.5 0.91
 South Africa 17 3.2 3.33
 Russia 15 4.5 0.39

China's corn import in 2021/22 is projected at 26 mln t, production at 273 mln t, ending stocks at 210.68 mln t (October report: 209.17 mln t).

Corn harvesting in Ukraine as of 4 November came to 22.8 mln t using the average yield of 6.82 t/ha. The crop was 61% harvested.

Prices for corn in Ukraine were under pressure of an active harvesting campaign in the country. Agritel projects corn production in Ukraine at 38.2 mln t.

Corn production in Ukraine and worldwide (click for full resolution)

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