USDA forecasts for Ukrainian corn harvest and exports remained unchanged

USDA analysts raised the forecast of world corn production in the season 2023/24 – the harvest is expected to reach 1 235.73 million tons (1 222.07 million tons in the previous forecast). The estimate of world corn exports was reduced by 0.57 million tons to 200.89 million tons. The ending stocks will increase by 10 million tons to 325.22 million tons. This is stated in the USDA report for January.

The forecasts of USDA experts for the harvest (30.5 mln tonnes), exports (21 mln tonnes) and ending stocks (6.82 mln tonnes) of corn in Ukraine remained unchanged.

USDA analysts increased the estimate of corn production in the U.S. to 389.69 million tons (2.72 million tons). The export forecast remained unchanged at 53.34 million tons. Ending stocks will be at 54.91 mln tonnes (+0.79 mln tonnes).

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

Експерти USDA збільшили прогноз виробництва кукурудзи в Китаї — 288,84 (+11,84) млн т. Імпорт очікується на рівні 23 млн т, кінцеві запаси — 211,86 млн т (+9,84) млн т.

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