July USDA: corn production and export from Ukraine unchanged, world output up

Corn production in Ukraine in the 2022/23 season is projected at 25 mln t, the USDA July report data shows. Corn exports from the country are put at 9 mln t, flat on the previous projection. Corn ending stocks in Ukraine are projected at 12.07 mln t.

The world corn production in 2022/232 is expected 0.09 mln t higher at 1,185.90 mln t (June proj.: 1,185.81 mln t). The global corn exports are projected at 182.57 mln t, 0.1 mln t down on the June report. Corn ending stocks are seen at 312.94 mln t, 2.49 mln t up mth/mth (June report: 310.45 mln t).

READ MORE: From Field to Port: Corn. Production, Storage and Profitable Sale

The US corn output proj. in 2022/23 is improved by the USDA to 368.44 mln t, 1.14 mln t above the June report data. Corn exports from the US remain unchanged, the country is expected to supply 60.96 mln t of grain to foreign markets. The US corn ending stocks should increase by 1.78 mln t to 37.33.

The projection for the major corn exporters in 2022/23 (July vs. June report indicators, mln t):

 Country Production Exports Ending stocks
 Brazil 126 47 7.95
 Argentina 55 41 1.49
 Ukraine 25 9 12.07
 South Africa 17.3 3.7 2.68
 russia 14.5 (-1) 3.8 (-0.5) 0.78 (-0.2)

China's corn 2022/23 projection in the July USDA report:

  • production: 271 mln t
  • import: 18 mln t
  • ending stocks: 204.22 mln t
  • exports: 0.02 mln t

Corn export from Ukraine as of July 13 made up 403 thou. t, 17% down YoY.

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