July 25, 2023
Wheat may be the big market factor following Russia’s withdrawal from the Black Sea Grain Initiative, but Ukraine also exports corn.
“Ukraine is projected to be the fourth largest exporter of corn this year,” says Kim Anderson, emeritus faculty, agricultural economics, Oklahoma State University, Stillwater. “They are normally the third largest exporter of corn, usually 15% of the corn export market. They'll be at 10% this year.”
“I think wheat is still the big one,” says Mark Welch, professor and Extension economist--grain marketing, Texas A&M AgriLife, College Station. “But Ukraine is a relatively large producer of corn as well, 25 million metric tons of corn.”
That compares to 17 and a half million metric tons of wheat. “They are a bigger corn producer and they export a larger percentage of their corn crop. So it does matter in corn.”
But corn coming out of the Black Sea Region is not as big a market factor as wheat.
“The world capacity for corn in terms of the major exporters, once you get out of the U.S. and Brazil, is not as big a factor as wheat. The other players export much smaller percentages,” Welch says.
“Brazil is now the number one exporter of corn,” Anderson says. But Ukraine’s reduced export potential could have an impact, especially with an increasing worldwide demand for protein.
That increased demand puts more pressure on feed grain markets, Anderson said.
Read more about:Trade
About the Author(s)
You May Also Like
Current Conditions for
Enter a zip code to see the weather conditions for a different location.
Will Hoosiers recognize farmland loss as an issue?Sep 28, 2023
Stocks data, shutdown threat pressures pricesOct 02, 2023
New England’s best dairiesSep 28, 2023
Benoit Angus Ranch earns CAB awardOct 02, 2023
Crop progress: Corn, soybean harvests slightly slower than expectedOct 02, 2023
Grains start the week with red-hot resultsJan 18, 2023
Oklahoma cattle market summaryOct 02, 2023