Russia becoming another rival in the world corn market

22.12.2016

Russia will get a bumper corn crop in 2016/17. Growers harvested over 15 MMT by December 16. More than 10% of corn is still left in the fields, but harvesting is going on, though at a slow pace.

According to Marina Sych, grain analyst of UkrAgroConsult, this season’s corn crop in Russia will be up more than 10% year-on-year. At the same time, estimated export availabilities are up 9-12% year-on-year.

This dynamics is already confirmed by record corn exports from Russia in the first months of the current season.

According to preliminary information, Russian exporters supplied about 0.8 MMT of corn to foreign markets in November. This is the largest monthly volume of corn exports from Russia.

Thus, Russia exported nearly almost 60% more corn for the three months of MY 2016/17 than last season. This is an all-time high for Russian corn exports.

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

 

UkrAgroConsult

Readers choice: TOP-5 articles of the month by UkrAgroConsult