Ukraine traders union cuts 2020 corn harvest, export forecast

KYIV: Ukraine grain traders union UGA lowered its forecast on Wednesday for the corn harvest in 2020 to 36.4 million tonnes from a previous estimate of 38.9 million tonnes.

The union also cut its forecast for Ukrainian corn exports in the 2020/21 season to 31 million tonnes from 33 million tonnes a month earlier.

"The change in the forecasted volume of corn harvest is explained by weather that is too dry, which has been observed over the past few weeks throughout Ukraine and which negatively affects the growing and corn yield," the union said.

Among the world's major corn exporters, Ukraine harvested 35.9 million tonnes of corn in 2019.

The economy ministry said corn exports totalled 29.9 million tonnes in the 2019/20 season, which runs from July to June.

So far in the 2020/21 season, Ukraine has exported 479,300 tonnes, the ministry said.