Bleak outlook for Ukraine grain harvest
A domestic agency is predicting the grain harvest in Ukraine to be off nearly 40 percent later this year.
Ukraine’s national academy of agricultural science forecasts the 2023 crop down 37 percent because of a smaller planted area and lower yields.
Analyst Michael Cordonnier with Soybean and Corn Advisor tells Brownfield he’s surprised the projected cuts aren’t deeper.
“Given the fact you’ve got a war and a lot of the men are at war so to speak, and you’ve got problems with fuel, equipment, seed, and fertilizer.”
He suggests planting will be impossible in some parts of Ukraine.
“Unfortunately the eastern part of Ukraine is the best part of the country for agriculture (and) that’s exactly where the war is occurring, so it’s going to be bad and probably worse in Ukraine.”
The Ukrainian ag science academy is forecasting a grain harvest of 34 million tons, which would be 37 percent less than 2022 and 60 percent less than 2021.