Corn supply up, prices down, says data
Ukraine may decrease corn plantings in 2012 and grow more barley, according to agricultural researcher ProAgro.
A large current supply of corn, which has led to lower prices, may push farmers to look to other crops. “I am more than confident that corn planting will decline,” said Nikolay Vernitsky, director of ProAgro. “Corn supply is big now and prices are not very attractive.” Barley plantings may be increased in the spring, said Vernitsky, when farmers choose their crops based on the condition of winter grain plants and how exports and prices for corn develop.
Ukraine’s winter grains sprouted on 5.7 million hectares, 71% of planted areas, according to Agriculture Ministry data. Winter grains may be lost on more than 2 million hectares, according to the data.