In its October report published yesterday, the U.S. Department of Agriculture increased its estimate of global corn production compared to the previous September report by almost 450 thousand tons – to 1,198.2 million tons, reports “ProAgro Group”.
In particular, the U.S. government analysts increased the grain harvest forecast for the EU countries – by 800 thousand tons, to 66.3 million tons; for the U.S. – by more than 500 thousand tons, to 381.5 million tons; for Canada – by 400 thousand tons, to 14 million tons.
At the same time, the corn production forecast was reduced for Ukraine – immediately by 1 million tons, to 38 million tons. USDA did not specify what exactly caused such a reduction, but apparently experts took into account the delay of harvesting campaign in the country, because of which the producers will not have time to thresh all the areas under the grain and part of the crop will remain in the field.
Together with Ukraine, corn yield forecast for the current season was reduced for Russia – by 500 thousand tons, to 15 million tons.
At the same time analytical department of “ProAgroGroup” in its October forecast of grain production in Ukraine on the contrary has raised the estimate of corn harvest in comparison with September by 850 thousand tons – up to almost 383 million tons, increasing the estimated sowing and harvesting area under crops as well, but keeping the same level of its expected average yield – 71.4 c/ha.
Analysts of “ProAgro Group” also note that there is a high probability that up to 2% (about 110 thousand hectares) of corn in Ukraine may remain in the field as through wet and high drying costs agrarians are still postponing harvesting.
