Heavy autumn rains have slowed down the harvest and increased the moisture content of corn to 28-32%, which, against the background of high drying costs and low corn prices, makes harvesting inexpedient.
The snow, which fell in mid-November, stopped field work altogether, and such weather will last at least two more weeks, according to ProAgro Group with reference to GrainTrade.
Thus, as of November 18, 12.3 million tons of corn were harvested from 2.1 million hectares or 50% of the area, with a yield of 58.1 centners per hectare, while analysts estimated the harvest at 27-28 million tons, and the USDA – at 31.5 million tons.
Corn can be harvested in winter or early spring, but under the condition of frost in the absence of snow in the fields. However, Ukrainian farmers have not yet left such large volumes of crops in the fields for the winter, so it is difficult to estimate possible losses.
Due to high carryover stocks in the current season, as of November 21, corn exports amounted to 8.6 million tons compared to 4.6 million tons a year ago. The shortage of supply of the new harvest in the near future will lead to instability of supplies to ports and an increase in purchase prices.
