Ukraine Faces Largest Corn Supply Since Invasion Amid Global Market Tightening
Ukrainian corn producers are facing their largest supply in recent years at the start of the new season, according to experts from the Ukrainian Agrarian Council. By July's end, Ukraine had around 5 million tons of carryover corn stocks, and another 1 million tons could be exported before the harvest begins.
This would leave approximately 4 million tons on the domestic market, in addition to the expected new-season harvest of 34-35 million tons. The total supply would reach 38-39 million tons, a level not seen since Russia's full-scale invasion began.
The global corn market is showing signs of tightening, with France's crops deteriorating and the US expecting a 30-million-ton decline in its harvest. This could potentially support prices for Ukrainian exporters, but Ukraine's limited export capacity due to port blockages may hinder its ability to capitalize on this trend.