USDA forecasts corn harvest in Ukraine at 28 million tons
According to the USDA forecasts, the corn harvest in Ukraine in 2023/24 MY will amount to 28 mln tonnes (+0.5 mln tonnes to the previous forecast). The export estimates remained at 19.5 mln tonnes, while the ending stocks could reach 4.43 mln tonnes (+0.54 mln tonnes).
This is stated in the September USDA report.
According to the report, the global corn harvest in 2023/24 MY will total 1.214 mln tonnes (+1 mln tonnes).
Experts left unchanged the estimate of the world corn exports – 196.19 mln tonnes. The ending stocks of corn in the world will be at 313.9 mln tonnes (+2.94 mln tonnes).
USDA analysts increased the estimate of corn production in the United States to 384.4 million tons (+0.6 million tons). The export forecast remains unchanged at 52.07 mln tons. Ending stocks will be at 56.4 mln tonnes (+0.5 mln tonnes).
Forecast for the main corn exporters for 2023/24 MY (September report figures compared to August):
| Country | Harvest, mln tons | Exports, mln tons | Reserves, mln tons |
| Argentina | 54 (0) | 40,5 (0) | 1,01 (-0,5) |
| Brazil | 129 (0) | 55 (0) | 7,97(+1,3) |
| russia | 14,6 (0) | 4,2 (0) | 0,76 (0) |
| South Africa | 16,8 (0) | 3,4 (0) | 1,95 (-0,44) |
USDA experts left unchanged the forecast of corn production in China – 277 mln tons. Imports will amount to 23 mln tonnes, ending stocks – 201.8 (+0.5 mln tonnes).
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