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.