UkrAgroConsult cut its estimate for Black Sea corn production by 1 MMT

28.12.2017

The corn harvest in Ukraine may already be said to have finished. Unlike last year, farmers managed to gather in almost all the crop before the actual arrival of winter. Just few fields remain unharvested, mostly in the north of the country, but they hardly will change the overall picture of the corn crop in Ukraine. Despite growth of the average corn yield in the country following the harvest advance, this year’s figures are nevertheless appreciably lower than in 2016.

There are no reasons for optimism in the Russian corn market either. Farmers in Russia had not enough time to complete corn harvesting before the arrival of winter again. They harvested this crop from 86% of its projected area by December 21.

The combined drop in Ukrainian and Russian corn production in 2017 is expected by 5-6% from last year. And export potential of these countries in the world corn market may fall to a 10% lower level than last season.

To know about prospects of corn market please read in the full version of the article available to subscribers for weekly market report “Black Sea Grain” and “Online market review” by UkrAgroConsult.

 

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