REUTERS
The crop is yet to be harvested in the most productive northern regions.
The United States Department of Agriculture (USDA) has revised downward its forecast for the corn yield in Ukraine in November 2020 against October 2020 by 22 %, to 28.5 million tonnes, worsening the forecast for exports by 26%, or 8 million tonnes, to 22.5 million tonnes.
That is according to the USDA's November report.
Corn production in Ukraine in the current season, the 2020-2021 marketing year (MY, July 2020 through June 2020) is expected to decline by 21% from MY 2019-2020 due to lower yields.
"Drought conditions across the country have devastated the corn crop and resulted in downward revisions," the report reads.
Harvesting campaign is underway in Ukraine. As of November 5, it was completed by about 70%. The crop is yet to be harvested in the most productive northern regions. In previous years, the relevant Ukrainian ministry usually reported higher yields.
"As an export-focused market, the cut to Ukraine’s corn production has corresponded to lower expected exports," the report adds.
Preceding events
The Ministry for Development of Economy, Trade and Agriculture expects the harvest of grain and leguminous crops in Ukraine in 2020 at 68 million tonnes, the yield of oilseeds is projected at 20 million tonnes.