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USDA has updated its global forecast with a significant increase in corn production and export in Ukraine

Maize (Corn)
Published Aug 16, 2022

Tridge summary

USDA has significantly increased the forecast of corn production and export by Ukraine in 2022/23 MR. Reported by the press service of UKAB.

Original content

On August 12, 2022, the United States Department of Agriculture (USDA) updated its global forecast of the balance of major crops for the 2022/23 marketing year. According to the updated forecasts of the USDA, in 2022/23, Ukraine's indicators of wheat production will remain unchanged at the level of 19.5 million tons, and wheat exports will increase by 1 million tons to 11 million tons. As for corn, Ukraine's indicators will increase significantly in terms of production (+5 million tons to 30 million tons), as well as exports (+3.5 million tons to 12.5 million tons). The updated global wheat forecast for 2022/23 MR foresees an increase in production volumes, growth in consumption and trade volumes, and a slight reduction in final stocks. The forecast for world wheat production increased by 8 million tons to a record 779.6 million tons, mainly due to increased production in Russia (+6.5 million tons to 88 million tons), Australia (+3 million tons to 33 million tons) and China (+3 ...
Source: Agravery
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