USDA forecast for corn crop in Ukraine has not changed
USDA analysts lowered the forecast of world corn production in the season 2023/24 – the harvest is expected to reach 1 227.86 million tons (1 230.24 million tons in the previous forecast). The estimate of world corn exports was reduced by 1.68 million tons to 200.59 million tons. The forecast of ending stocks decreased by 1.35 million tons to 318.28 million tons.
This is stated in the USDA report for March.
The forecast for the corn harvest in Ukraine remained unchanged – 29.5 mln tonnes, exports are forecast at 24.5 mln tonnes, ending stocks – 2.82 mln tonnes.
USDA analysts left unchanged the estimate of corn production in the United States – 389.69 million tons. The export forecast also remained unchanged – 53.34 mln tons. The ending stocks will be at 53.9 mln tonnes (-1.27 mln tonnes).
Forecast for the main corn exporters for 2023/24 MY (April figures compared to March):
| Country | Harvest, mln tons | Exports, mln tons | Reserves, mln tons |
| Argentina | 55 (-1) | 42 (0) | 1,09 (+0,06) |
| Brazil | 124 (0) | 52 (0) | 6,27 (+0,07) |
| Russia | 16,6 (0) | 5,6 (+0,3) | 0,96 (-0,1) |
| South Africa | 14 (-1,5) | 2 (-0,9) | 1,92 (-0,13) |
USDA experts left their forecasts for China unchanged: corn harvest – 288.84 million tons, imports – 23 million tons, ending stocks – 211.86 million tons.
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