USDA reduced the forecast for corn production in Ukraine by 3 million tons, which slightly worsened the global balance.

The United States Department of Agriculture (USDA) in its December report unexpectedly sharply reduced the forecast for corn harvest in Ukraine, which led to a decrease in the forecast for global production and global reserves in the updated balance for 2025/26 MY. The forecast for the corn harvest in Ukraine in 2025/26 MY was reduced by 3 million tons to 29 million tons, which is still 8% higher than last year's figure. Due to the delay in harvesting and adverse conditions, USDA experts reduced the yield estimate by 5% to 6.9 t/ha compared to November, and the harvested area by 5% to 4.2 million hectares, which will exceed last year's figures by 6% and 2%, respectively. The forecast for corn production in the United States remained unchanged, but the export forecast was increased, which reduced the stock estimate and supported quotations in Chicago. December futures for corn in Chicago after the release of the report grew by 1% to $173.5/t and are trading 2.4% higher than ...