Poor weather conditions during the early stages of the Ukrainian corn harvest have reduced yields to around 20% below what they were last year to around 4.5 MT/ha vis-a-vis 6.6 mt/ha the year before, and prices are likely to push higher as a result. The market widely expects the harvest to be lower than last year, at around 25 MMT. The latest US Department of Agriculture’s WASDE report estimates the 2016-17 season to have been around 28 million mt, with 2017-18 projected to reach 27 MMT.