Market News & Headlines >> Ukraine Corn Output, Exports Down
USDA lowered its forecasts for Ukraine’s 2015-16 corn production and exports moderately in Friday’s world supply/demand update, but its estimates were not nearly as pessimistic as those offered by the U.S. agricultural attaché in Kiev.
USDA’s World Agricultural Outlook Board cut its estimate of Ukraine’s 2015 corn crop by 2 million metric tons, or 7.4%, to 25 million metric tons and cut that country’s projected exports by 1.5 million tons, or 8.1%, to 17 million tons. The new estimates compared to 2014-15 production of 28.45 million tons and exports of 19.08 million tons.
However, in a separate report released on Friday, but dated Sept. 3, the ag attaché in Kiev pegged Ukraine’s 2015 corn output at only 21.1 million tons and projected exports of just 12.5 million tons.
In slashing his production estimate, the ag attaché cited reduced production area and unfavorable weather conditions, noting that August featured high temperatures and low rates of precipitation for all of Ukraine.
Meanwhile, Reuters News Service, citing a government official reported last week that Ukraine’s government had reached a tentative agreement with exporters to cap 2015-16 corn exports at 16 million tons.