USDA analysts increased the forecast of Ukrainian corn exports by 2 million tons

USDA analysts lowered the forecast of world corn production in the season 2023/24 – the harvest is expected to reach 1 232.57 million tons (1 235.73 million tons in the previous forecast). The estimate of world corn exports was reduced by 0.07 million tons to 200.82 million tons. The forecast of ending stocks decreased by 3.16 million tons to 322.06 million tons.

This is stated in the USDA report for February.

The forecast for the corn harvest in Ukraine remained unchanged – 30.5 mln tonnes, exports are forecast at 23 mln tonnes (+2 mln tonnes), ending stocks – 5.32 mln tonnes (-1.5 mln tonnes).

USDA analysts left unchanged the estimate of corn production in the U.S. – 389.69 mln tonnes. The export forecast also remained unchanged – 53.34 mln tons. The ending stocks will be at 55.17 mln tonnes (+0.26 mln tonnes).

Forecast for the main corn exporters for 2023/24 MY (February report figures compared to January):

USDA experts left their forecasts for China unchanged: corn harvest – 288.84 million tons, imports – 23 million tons, ending stocks – 211.86 million tons.

Tags: USA, Argentina, crop forecast, Ukraine, China, corn, export, Brazil, EU, USDA Report