A 6 percent more corn harvest than last year is expected

By: STA Date: 2024. 01. 23. 09:00

In the January projection of IGC, the 2022/2023. 1230 million tonnes of global corn crops are almost 6 percent more than 6 percent in 2023/2024. Economic year. The use is 1218 million tonnes, which would overcome last season by 3 percent. 2023/2024. By the end of the year, 287 million tonnes (+4 percent) could remain in the storage.

In the European Union, according to Tallage, corn was harvested from 8.5 million hectares in 2023, 4 percent smaller than in 2022, from which – due to the 22 percent improvement in yield – almost 61 million tons (+17 percent) of the crop went into storage. In France, 13.3 million tons (+26 percent) of corn were harvested from 1.4 million hectares (-1 percent) with an average yield of 9.6 tons/hectare (+27 percent). In Romania, 10.4 million tons (+22 percent) were harvested from 2.4 million hectares with a yield of 4.3 tons/hectare (+26 percent). In Poland, despite a 2 percent increase in the national average yield (7 tons/hectare), due to a 2.5 percent decrease in the area (1.2 million hectares), the amount of corn produced was slightly lower than a year earlier, 8.1 million tons.

According to AKI PÁIR data, feed corn changed hands at an average producer price of HUF 60.6 thousand/ton in the second week of January, which is 41 percent lower than a year ago

On the Budapest Stock Exchange, the ISCC NUTS II sustainable fodder corn quotation for various deadlines has not changed since December 21, 2023: March 61 thousand, May 63 thousand, and July 65 thousand forints were on January 19. On the Chicago Mercantile Exchange, the March quotation for corn fluctuated between 18 December 2023 and 19 January 2024 in the range of 174-189 dollars/ton. At the same time, the March settlement price of the crop on the Paris commodity exchange fluctuated between 187 and 200 euros/ton.

AKI PÁIR