Corn harvest in Ukraine in 2023/24 MY is forecasted at 30.5 mln tonnes – USDA report
USDA analysts raised their forecast for global corn production in the 2023/24 season – the harvest is expected to reach 1 222.07 million tons (1 220.79 million tons in the previous forecast). World corn exports will also increase to 201.46 million tons (+1.84 million tons). The ending stocks will increase by 0.23 mln tonnes to 315.22 mln tonnes.
This is stated in the USDA report for December.
According to the forecasts of USDA experts, the corn harvest in Ukraine in 2023/24 MY will amount to 30.5 mln tonnes (+1 mln tonnes). The export estimates increased by 1 mln tonnes to 21 mln tonnes, while the ending stocks may increase by 0.39 mln tonnes to 6.82 mln tonnes.
USDA analysts left unchanged the estimate of corn production in the United States – 386.97 million tons. The export forecast increased by 0.63 mln tons to 53.34 mln tons. Accordingly, the ending stocks will be at the level of 54.12 mln tonnes (-0.63 mln tonnes).
Forecast for the main corn exporters for 2023/24 MY (December report figures compared to November):
| Country | Harvest, mln tons | Exports, mln tons | Reserves, mln tons |
| Argentina | 55 (0) | 41 (0) | 1,01 (0) |
| Brazil | 129 (0) | 55 (0) | 7,97 (0) |
| russia | 17 (+1) | 5,3 (0) | 1,06 (+0,3) |
| South Africa | 16,8 (0) | 3,4 (0) | 2,05 (0) |
USDA experts left unchanged the forecast of corn production in China – 277 million tons. Imports are expected at 23 mln tons, ending stocks – 202.02 mln tons.
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