Ukraine November corn exports lag 2016/17 year: APK Inform

Bad weather, damage to yields and logistical challenges mean Ukraine’s corn exports are lagging the same period of the 2016/17 marketing year, according to agriculture news provider APK Inform.

October’s export volume was the lowest in 7 years, while November’s volumes – around 1.1 million mt – are 49% lower than the previous November and also the lowest volume for any November over the last 7 years.

Low prices have also played a part in keeping Ukraine’s crop off international markets, as investment in elevation and improved storage capacity has meant Ukraine’s farmers can store rather than sell.

Alongside that, persistent issues with securing freight wagons and a fall in overall corn production versus last marketing year’s bumper crop which topped 28 million mt, according to the USDA’s WASDE.

In November, the USDA revised downwards its crop estimates for Ukraine’s 2017/18 harvest to 25 million mt.