FAS USDA Slashes Ukraine Corn Export Forecast by 39%
The Foreign Agricultural Service of the US Department of Agriculture (FAS USDA) has lowered its forecast for corn exports from Ukraine by 39% to 14 million tons in the 2026/27 MY due to suspended exports from Black Sea ports.
This is a significant reduction from the previous estimate of 23 million tons, but stock market quotes have remained unchanged.
December corn futures in Chicago closed at $181.8/t yesterday with no change for the month, despite anticipation of an increase in US harvest forecast and global crop estimates.