World Corn production for the 2019-20 season, which will begin on September 1, 2019, is estimated at 1108.24 Mio Tons, deviating from the record level anticipated in May. Production is expected to decrease by 1.3% compared to the previous season, reflecting lower production in the United States and China, the main world producers.
Ukraine production is projected record high at 36.5 Mio Tons, reflecting increases to both area and yield.
Also EU Corn production is raised, as Romania, Hungary and Bulgaria are producing more Corn than expected.
In the 2018-19 season, world corn exports are up sharply: +18.5%, according to estimates at 31 August 2019, in view of significant growth for Brazil, Argentina and Ukraine. An overall decrease of 3.6% is expected for the new season. Only Ukraine should further increase exports.
Monthly updates for the first half of 2019 indicate exports of 26.4 Mio Tons for the United States, -28.5% compared to January-June 2018. For 2019-20 U.S. exports are lowered (-2.4%) reflecting export competitiveness and expectations of increasing competition from Argentina, Brazil and Ukraine.
The European Union, the main importer of Corn, in the new 2019-20 season should reduce purchases (-10.6%). The growing trend of Mexican imports continues (+ 8.8%).
Data for the first five months of 2019 of Italian imports of Corn recorded an overall increase of +4.4% y-o-y and showed strong growth from Croatia, Slovenia and Hungary, which more than offset a decrease in volumes imported from Ukraine and Romania.