USDA has increased the forecast indicators of Ukrainian exports for wheat and corn

Maize (Corn)

Wheat

Ukraine

Published Jan 14, 2023

Tridge summary

The United States Department of Agriculture (USDA) has updated its global forecast of the balance of major crops for the 2022/23 marketing year. This was reported by the press service of UKAB. According to updated USDA forecasts, in 2022/23, Ukraine's indicators of wheat production and export will increase by 0.5 million tons to 21 million tons and 13 million tons, respectively.

Original content

As for corn, here production volumes will remain unchanged, while exports will increase by 3 million tons to 20.5 million tons. The global wheat market outlook for 2022/23 predicts increased supplies, exports, consumption and stocks. World wheat production increased by 0.7 million tons to 781.3 million tons due to increased production volumes by Ukraine (+0.5 million tons to 21 million tons) and EU countries (+0.4 million tons to 134.7 million tons) ) with a simultaneous decrease in China (-0.2 million tons to 137.7 million tons). The forecast volume of world trade in wheat for 2022/23 will increase by 0.8 million tons to 211.6 million tons. Increase in export volumes for the EU (+0.5 million tons to 36.5 million tons) and Ukraine (+0.5 million tons to 13.0 million tons) more than compensated for the drop for India (-0.4 million tons to 5.9 million tons). Projected global ending stocks for FY 2022/23 will increase by 1.1mt to 268.4mt, with increases for the EU, Ukraine, Kazakhstan ...

Source: Agrotimes