Corn prices in Russia have risen by 20%, although they are falling in the world

Since the beginning of the year, corn prices have risen by almost 20%, while Russian exports are expected to fall by 44%. The main reason is poor harvest forecasts, the worst since 2018. Livestock consumes some of the corn, and the crop has largely replaced oats, rye, and barley as fodder. Forbes looked into why corn is difficult to grow in Russia, where the excess harvest that is exported comes from, and what will happen to prices in the future. Taking into account the significant decrease in yield indicators, the reduction in corn harvest this year may amount to 25-26%, believes Mark Gekht, Managing Partner of RUSEED. As of September 26, according to his information, 651,100 hectares, or about 24.8% of the total sown area of corn, have been threshed. The average yield is 39.3 centners per hectare, which is 1.5 times lower than on the corresponding date in 2023. According to the consensus forecast of the Union of Grain Exporters, the corn harvest will amount to 12.7 million tons ...