Ukraine has the lowest corn harvest in 5 years
The 2020 corn crop in Ukraine for the first time in the past few years will be below 30 million tons, while in 2019 the corn harvest amounted to almost 35.9 million tons.
A significant decrease in the yield of Ukrainian corn has become a factor in the formation of the world price for this crop, writes agronews.
As of October 19, Ukrainian agrarians harvested 24.5 million tons of corn from an area of 4.7 million hectares. But the harvesting work in Ukraine for corn and soybeans has not yet been completed. It remains to remove 751 thousand hectares. With the current yield, the agroindustry can count on about 4 million additional tons of corn.
Context. The US Department of Agriculture (USDA) in November downgraded the forecast for the export of Ukrainian corn in the 2020/2021 marketing year (July-June) by 8 million tons, to 22.5 million tons. The harvest will decrease by 8 million tons, to 28.5 million tons.