Ukraine to create large corn-soybean belt based on US corn belt

The Ukraine Minister of Agricultural policy and food (Minagroprod) has started a program that will create a large corn-soybean belt, that will increase land used to five million hectares for corn and 2-2.5 million hectares for soybean. This will almost double the production of these crops.

“Minagroprod initiated a fundamental change in the structure of main crop production in the Ukraine, aiming to grow crops more in line with the climatic conditions of our country,” said Nikolay Bezugly, deputy minister of Agricultural Policy and Food, at the recent Forum "Agribusiness in Ukraine", organised by the Adam Smith Institute.

"Ukrainian science has developed the concept of a corn-soybean belt in the forest-steppe part of Ukraine based on the  Corn Belt in the USA", said  Bezugly. Read more ...

Positive outlook though wheat prices weaken

With conditions improved in Australia the National Australia Bank (NAB) Agribusiness has revised its 2011-12 wheat crop forecast up to 25.05 million tonnes. Increasing world production could see lower prices over the medium term. Tight world corn stocks should provide some support to wheat prices to the Australian growers into 2012. NAB Agribusiness General Manager Khan Horne said "world wheat production will exceed consumption this year by almost ten million tonnes. With a solid crop on the cards in Australia and yields close to being locked in, the market will start focussing its attention on quality". Read more ...