USDA slashed its corn crop estimate for Ukraine

UkrAgroConsult

The most noticeable change for the Black Sea region in the November report is an 8 MMT reduction in the forecast for Ukraine’s corn crop, to 28.5 MMT. The USDA has lowered from the most optimistic estimate to one of the most pessimistic forecasts, UkrAgroConsult reports.

The USDA built its corn crop recalculation on the Economy Ministry’s harvest progress data. The latter claims that the average yield has not yet exceeded 5 MT/ha, though the harvest is already 72% complete.  Some trade sources (including UkAgroConsult) consider this data understated. We believe the State Statistics Service’s final data may be higher.

The crop forecasts for wheat and barley were left unchanged

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