Ukraine’s Agriculture Minister Surprised the Trade

Ukraine's agriculture minister surprised the trade today with suggesting the fall 2022 corn harvest could fall to 22 - 23 million tonnes. This would be a good decline from their prior 25 - 27 mt forecast from back in September. It would be sharply under the 41.9 mt 2021 harvest. The official noted a lack of fuel and money had kept a bit of the crop still out in the fields for harvest this coming spring. As of 12/15 they estimate 30% of acreage has yet to be harvested. Echoing prior comments from the Ukraine Agribusiness Club in prior weeks, the official also noted an expectation for a clear decline in corn planting this spring for the 2023 fall harvest. "I think there will be millions more hectares of sunflower planting, First and foremost, by reducing corn crops."

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