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EU crop monitor sees Ukraine maize crop down 24% on year

PARIS (Reuters) - Ukraine's grain maize (corn) harvest is expected to fall 24% below last year and 5% below the five-year average to 32.0 million tonnes, the European Union's crop...
EU crop monitor sees Ukraine maize crop down 24% on year

PARIS (Reuters) - Ukraine's grain maize (corn) harvest is expected to fall 24% below last year and 5% below the five-year average to 32.0 million tonnes, the European Union's crop monitoring unit MARS said on Monday in updated estimates for the war-torn country.

For sunflower, of which Ukraine is one of the world's largest exporters, the harvest is expected to drop 15% from a year ago to 13.9 million tonnes, 2% below the five-year average.

"Russia's war against Ukraine has seen a decrease in the area under grain maize and sunflowers. Consequently, our production forecasts for both crops is below the 5-year average, despite fair yield outlooks," it said in a report.

Some 4% of the grain maize, 10% of the sunflowers, and 7% of soybean production is in areas currently subject to hostilities, MARS said.

For winter crops, for which the harvest is over, the share is at 22% of total soft wheat production, 20% for barley and 13% for rapeseed.

Analysts have been wrestling with how much grain Ukraine, usually one of the world's biggest suppliers, will be able to harvest and export this year as war with Russia continues.

MARS' estimates are based its own yield estimates and on area data from the Ukrainian farm ministry, apart from those in the war zones of Donetsk, Kherson, Luhansk and Zaporizhzhia, which are based on remote sensing, it said.

To access the full MARS report: https://publications.jrc.ec.europa.eu/repository/handle/JRC127974

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01-05-2024 10:45:17 (UTC+7)

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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