December USDA: Ukraine’s corn production 2021/22 revised upward

Corn production in Ukraine in the 2021/22 season is projected 2 mln t higher, at 40 mln t, the USDA December report data shows. Corn export from the country is also seen 1 mln t higher, at 32.5 mln t.

Corn ending stocks projection for Ukraine is 0.54 mln t above the previous report data, at 1.45 mln t.

The world corn production in 2021/22 is expected 4.11 mln t higher and should reach 1,208.73 mln t (November proj.: 1,204.62 mln t). The global corn exports are projected at 204.86 mln t, 1.39 mln t above the November report. Corn ending stocks should reach 305.54 mln t, 1.12 mln t higher mth/mth (November report: 304.42 mln t).

This month’s 2021/22 world corn outlook is for higher production in the key countries, 244.5 mln t in the December report vs. 242.5 mln t in November.

The projection for the major corn exporters in 2021/22 (December vs. November report indicators, mln t):

China’s corn 2021/22 projection in the December USDA report:

• production: 272.55 mln t, 0.45 mln t ▼
• import: 26 mln t
• ending stocks: 210.24 mln t, 0.44 mln t ▼
• exports: 0.02 mln t

As of 25 November, corn harvesting in Ukraine was 87% completed. The new crop reached 35.07 mln using the average yield of 7.32 t/ha.

Since the start of 2021/22, corn export from Ukraine has come to 6.2 mln t, 8% up YoY.

Latifundist

Tags: Ukraine, China, corn, soybean, wheat