APK-Inform lowered its forecast of Ukrainian corn crop to 33.8 mln tonnes, down 6% compared to the last year (35.9 mln tonnes). Despite the extension of planted area under crop by 9% to record 5.5 mln ha, the yield of corn will decreased by 8% to 6.6 t/ha due to dry weather during August that is critical period for grain filling and maturing.
Thus, Ukraine will cut corn export by 3% to 28 mln tonnes in 2020/21 MY. The EU and China are the key importers of Ukrainian corn. They bought 55% (15.9 mln tonnes) of the overall exported volume of Ukrainian corn in 2019/20 MY. According to USDA, the EU will import 24 mln tonnes of corn in 2020/21 MY, up 26% compared to 2019/20 MY. China will retain corn import at 7 mln tonnes this season. Thus, the share of Ukrainian corn may decline on the European market amid lower supply.
The harvesting campaign of corn is delaying in Ukraine. As of October 22, farmers harvested corn throughout 52% of the planned area compared to 61% as of the same date in 2019. This could cause further downward revision of corn production and export potential.
How will it influence on prices? What is the trade strategy of farmers? Where is the price roof and how will it impact the competitiveness of Ukrainian corn? You can get the answers to these and other burning questions within the online conference Corn-2020: Deal or default?! to be held on November 5 on ZOOM platform.
Time - 13:00-16:00 (Kyiv)
Participation is free.