The corn harvest in the Black Sea region is gaining pace, and the yield figures only add to expectations of a bumper corn crop in the region, UkrAgroConsult’s analysts report.
So, corn harvest in Ukraine is already more than 40% complete, its progress is 28% ahead of last year, and the average yield in the country is 39% higher than last year with a comparable harvested area. All-time high corn yields are registered in the course of harvesting.
In view of the above, UkrAgroConsult raises its forecast for Ukrainian corn output. As a result, export potential of Ukrainian crop in the 2018/19 season may reach a record high. But it is still questionable if Ukraine will be able to fully realize its corn export potential in the 2018/19 season.
Like Ukraine, Bulgaria and Romania received well-timed and sufficient precipitation for favorable corn growing. Bulgarian and Romanian farmers report record yields in the course of harvesting, thus corn crop in these countries is forecast to increase.
With regard to Russia, this country became an outsider in terms of corn production in the region this year. In view of shrinking acreage and falling yields, the Russian total corn crop is expected to be at a six-year low.
Nevertheless, according to UkrAgroConsult, the Black Sea corn crop in 2018 will hit an all-time high. Supply of Black Sea corn for export may grow also.
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In the 2018/19 season the soybean market avoided turmoil and began transformation in order to operate in the new conditions