Source: Zerno.ru (Russia)
Difficult weather conditions have a negative impact on the future harvest of Ukrainian corn and sunflowers. It is possible to repeat the year 2020, when the harvest of these crops fell by 35% due to drought, analysts from the agricultural cooperative PUSK, which was established within the framework of the All-Ukrainian Agricultural Council, write Agravery.com.
“Productive moisture reserves are very low. Although a drop in temperatures is predicted, the lack of rainfall will have a negative impact on the development of these crops. While corn in particular is beginning to flower, the foundation for yields is being laid. And without precipitation, the situation can become very critical. Unfortunately, it is possible to repeat 2020 and reduce yields by 30-35%. This fact is forcing some importers to stock up on corn while it is cheap,” say the analysts.
Global demand for corn has increased as Romanian corn has been “burned” due to the heat wave. Around 15 to 30% of Romania’s corn acreage has been lost.
“To understand, last Monday Romanian corn cost 190-192 dollars per ton on the FOB market, and yesterday it already cost 200-202 dollars, i.e. it has increased by 10 dollars per week. Ukrainian corn increased in price by 3-4 dollars on the export market, European importers started to build up stocks. Egypt is starting to contract corn – here Ukrainian producers can compete with American and Argentinian corn. old crop,” the PUSC explained.