"The U.S. Department of Agriculture (USDA) in February increased the forecast for corn exports from Ukraine for the 2018-2019 marketing year (July-June) by 0.5 million tonnes compared to the December forecast, up to 28.5 million tonnes," the report says.
According to the report on the USDA’s website, foreign corn production is forecast higher with increases for Argentina, China, and Ukraine more than offsetting reductions for South Africa and Mexico. Argentina’s corn production is up based on higher expected area and yield, with abundant rainfall and benign temperatures over the past two months boosting yield prospects. China and Ukraine are higher based on the latest official statistics. South Africa is lowered as heat and dryness during the month of January, particularly in the western producing areas, reduces yield prospects.
In 2018, Ukrainian farmers gathered a record grain harvest totaling 70.1 million tonnes, which will allow them to export 47-50 million tonnes of grain.
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