Corn harvest forecast in Ukraine increased by 2.5 million tons in USDA report for June

According to USDA forecasts, Ukraine’s corn production in 2023/24 MY will reach 24.5 mln tonnes, up 2.5 mln tonnes from the previous report. The export of corn from Ukraine is forecast at 19 mln tonnes (+2.5 mln tonnes). Analysts left the ending stocks estimate unchanged at 1.39 million tons.

According to the latest report, the world corn harvest in 2023/24 MY will amount to 1.222 mln tonnes (+3 mln tonnes).

Experts raised the estimate of global corn exports by 197.76 mln tonnes (+2.5 mln tonnes). The ending stocks of corn in the world will be at 313.98 million tons (+1.08 million tons).

USDA analysts left unchanged the estimate of corn production in the United States – 387.75 million tons and exports – 53.34 million tons. The ending stocks will be at the level of 57.32 (+ 0.89 million tons).

Tags: Ukraine, Russia, corn, Brazil, USDA Report, USA, Argentina