Corn market: pessimism is premature

10.08.2016

Olena Hesova – grain and oilseed markets analyst at "UkrAgroConsult "

Precipitation deficit at the background of excessive air temperatures in several Black Sea countries, particularly in Romania, Bulgaria and Ukraine, raise market operators` concerns as to the volume of Black Sea corn supply in 2016/17. But major attention is focused on Bulgaria and Romania, due to the fact that precipitation quantity has been lower in these countries over the last month compared to Ukraine.

Current conditions in Romania and Bulgaria remind of the negative development in weather scenario of summer 2015, when abnormally high air temperatures, also observed in other EU countries, provoked EU corn crop losses in average by 24% compared with the record achieved in 2014/15.

Full version of the article is available to subscribers for weekly market report “Black Sea Vegoils & CIS” and “Online market review” by UkrAgroConsult.

 

 

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